The Federal Government has launched a $500 million agricultural financing initiative aimed at increasing food production, strengthening value chains and improving food security across Nigeria.
The fund, unveiled through the Federal Ministry of Agriculture and Food Security in partnership with international development institutions and private sector investors, is designed to provide affordable financing for farmers, agribusinesses and agricultural enterprises. The initiative will support investments in crop production, livestock, fisheries, irrigation, storage, processing and agricultural technology.
Government officials said the programme seeks to tackle key challenges limiting agricultural productivity, including limited access to finance, climate-related risks, inadequate infrastructure and post-harvest losses. The fund is also expected to create jobs, increase rural incomes and reduce Nigeria’s dependence on food imports.
Speaking at the launch, Minister of Agriculture and Food Security Abubakar Kyari said the initiative aligns with the government’s broader strategy to transform agriculture into a major driver of economic growth while ensuring Nigerians have access to affordable and nutritious food.
The financing facility will be implemented in phases, with participating financial institutions providing loans and investment support to eligible farmers, cooperatives and agribusinesses across the country. Officials said special attention will be given to women and youth-led enterprises to encourage greater participation in commercial agriculture.
The government expressed confidence that the $500 million fund will help unlock private investment in the agricultural sector, strengthen resilience against food supply shocks and accelerate Nigeria’s journey toward sustainable food security and economic diversification.
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