By Atoyebi Nike
Nigeria’s agricultural sector is set for significant expansion as the Federal Government confirmed that a $500 million World Bank loan facility will accelerate investment and strengthen value chains across the country. The Minister of Agriculture and Food Security, Abubakar Kyari, made the announcement during a visit by a World Bank delegation led by Hardwick Ichale, head of the Agriculture Value Chains for Growth (AGROW) Project.
Kyari said the intervention will support President Bola Tinubu’s Renewed Hope Agenda by driving food security, job creation, and rural industrialization. He added that the funding forms part of the World Bank’s broader $14 billion, six-year Agri-Connect initiative, designed to close gaps in smallholder farming and link farmers with processors, markets, and financial services.
According to him, the new facility will support farmer aggregation, expand market linkages, and integrate MSMEs into high-priority agricultural value chains. The initiative also aligns with government programmes such as the Special Agro-Industrial Processing Zones, which aim to attract private investment and encourage youth and women’s participation in agribusiness.
Kyari stressed the need for transparency, accountability, and structured farmer involvement to ensure the loan delivers measurable impact.
World Bank representative Hardwick Ichale said the AGROW Project will focus on strategic value chains such as rice, maize, soybean, and cassava. He said the programme seeks to help farmers view agriculture as a business by improving productivity, inclusion, and commercialization, while also opening new opportunities for private sector investment.
The project is expected to improve the competitiveness of Nigeria’s agricultural sector, expand export potential, and attract new investments in agro-processing and logistics infrastructure.
