ABUJA, April 2 – The World Bank has approved a $500 million International Development Association credit to support Nigeria’s agriculture sector under a new programme aimed at improving productivity, strengthening value chains and enhancing food security.
The financing, approved on March 30, 2026, will fund the Nigeria Sustainable Agricultural Value Chains for Growth Project, also known as AGROW.
The initiative is designed to support smallholder farmers, improve market linkages and drive job creation across the sector.
According to the World Bank, agriculture remains Nigeria’s largest employer but continues to underperform due to low productivity, limited access to quality inputs, climate shocks and weak market access. Many smallholder farmers remain engaged in subsistence farming, contributing to persistent food and nutrition challenges.
The AGROW programme will prioritise key staple crops including rice, maize, cassava and soybeans, which are central to Nigeria’s food system and industrial value chains.
It will also support agribusinesses through a results-based matching grant facility, particularly those sourcing produce directly from smallholder farmers.
In addition, the project will focus on aggregation, post-harvest handling, agro-processing and improved access to markets. It will also strengthen agricultural research and extension services, expand access to climate-resilient seeds and establish a national digital farm and farmer registry.
Farmers are expected to benefit from digital advisory services, including localised weather and climate information aimed at improving yields and resilience.
The six-year programme, scheduled to run from 2026 to 2032, is projected to benefit up to one million smallholder farmers and attract an additional $220 million in private agribusiness investment.
Data from Nigeria’s Debt Management Office shows the country’s exposure to the World Bank stood at $19.54 billion as of September 2025, representing about 40.34% of its total external debt stock.