The Federal Government of Nigeria, through the Ministry of Agriculture and Food Security, has obtained over $600 million in foreign loans to enhance food security and rural development in 2024.
The Ministry of Agriculture and Food Security states that a $134 million loan from the African Development Bank will support seed and grain production nationwide. Additionally, $500 million from the World Bank, provided through the Rural Access and Agricultural Marketing Project, brings the total funding to $634 million.
The initiative is designed to connect rural communities with larger markets, enhancing access to agricultural hubs, schools, and hospitals. It aims to drive social and economic development in rural areas. RAAMP National Coordinator, Aminu Mohammed, emphasized that the project focuses on improving rural roads and trading infrastructure to support increased food production.
The project, now operational in 19 states, plans to distribute funds based on criteria such as socioeconomic indicators, implementation readiness, and state co-financing commitments. It also aims to enhance women’s participation in the transport sector by establishing Rural Access Road Authorities. The upcoming phase of RAAMP will include a $500 million investment from the World Bank, supplemented by $100 million in counterpart funding from federal and state governments.
The Federal Government’s agricultural initiatives, including mechanization, irrigation, and funding support, have faced criticism from farmers across Nigeria. Many believe these programs are selective and poorly executed, primarily benefiting well-connected individuals while neglecting smallholder farmers, who are the backbone of the nation’s agricultural sector.
