Nigeria Secures $500m World Bank Funding for Agricultural Value Chains

The World Bank has approved a $500m credit facility aimed at strengthening Nigeria’s agricultural value chains and improving productivity across the sector.

The funding, provided through the International Development Association, is expected to support the Nigeria Sustainable Agricultural Value Chains for Growth project, which focuses on enhancing smallholder farmer output and integrating them into competitive markets.

According to details of the project, the initiative is designed to improve agricultural productivity, expand access to markets, and create employment opportunities across participating states.

The programme will target key challenges within Nigeria’s agricultural sector, including limited access to finance, weak value chain linkages, and low productivity among smallholder farmers.

It is also expected to promote private sector participation by strengthening the policy environment and encouraging investment in agricultural inputs and infrastructure.

The intervention comes as Nigeria continues to grapple with high food import bills and seeks to boost local production and food security through targeted reforms in the agricultural sector.

With agriculture remaining a major source of employment in the country, the World Bank-backed initiative is projected to improve livelihoods, drive rural economic growth, and enhance the overall efficiency of Nigeria’s food system.

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