The World Bank has approved a $500 million credit facility for Nigeria aimed at supporting smallholder farmers, improving agricultural productivity, and strengthening food security across the country.
The funding, approved under the Nigeria Sustainable Agricultural Value Chains for Growth (AGROW) programme, will be implemented over a six-year period from 2026 to 2032. The initiative targets key agricultural value chains and is designed to enhance farming output while creating jobs and expanding economic opportunities in rural communities.
According to details reported by TheCable, the programme will directly benefit up to one million smallholder farmers across Nigeria, focusing on staple crops such as rice, maize, cassava, and soybeans. These crops are critical to national food supply and play a major role in sustaining livelihoods in rural areas.
The AGROW project will be financed through the International Development Association (IDA), the World Bank’s concessional lending arm for low-income countries. The funding is expected to address long-standing challenges in Nigeria’s agricultural sector, including low productivity, limited access to inputs, and poor market linkages.
Beyond direct farming support, the programme will introduce a digital farmer registry to improve data collection and planning across the sector. It will also provide farmers with access to essential inputs such as improved seeds and fertilisers, while offering climate and weather advisory services to help them adapt to changing environmental conditions.
In addition, agribusinesses working closely with farmers will receive support through grants and financing mechanisms, enabling them to scale operations, improve processing capacity, and strengthen value chains. This integrated approach is expected to reduce post-harvest losses and increase the overall efficiency of agricultural production.
Officials from the World Bank described the initiative as a transformative step toward unlocking Nigeria’s agricultural potential. The project is also aligned with national efforts to diversify the economy away from oil by strengthening sectors such as agriculture, which employs a large portion of the population.
For Nigerians, particularly those in rural communities, the programme presents significant opportunities.
Farmers will benefit from improved access to finance, better farming inputs, and enhanced market connections, all of which can lead to increased income and improved living standards. The initiative is also expected to generate employment opportunities across the agricultural value chain, from production to processing and distribution.
The broader impact of the project extends to national food security, as increased production of staple crops could help stabilise food supply and reduce reliance on imports. This comes at a time when rising food prices and supply disruptions continue to affect households across the country.
Economic analysts note that sustained investment in agriculture remains critical for Nigeria’s long-term growth. With targeted interventions like the AGROW programme, the country can improve productivity, strengthen rural economies, and build resilience against future shocks.
The approval of the $500 million facility signals renewed international support for Nigeria’s agricultural development and underscores the importance of strategic partnerships in driving inclusive growth.
As implementation begins, stakeholders will be watching closely to ensure that the programme delivers measurable impact and reaches the farmers and businesses it is designed to support.