The Federal Government has strengthened its collaboration with the Japan International Cooperation Agency to accelerate the rollout of a ¥15 billion (approximately $110 million) emergency loan aimed at boosting food security in Nigeria.

This was revealed in a statement issued on Wednesday by the Federal Ministry of Finance and the Coordinating Ministry of the Economy, following a strategic meeting involving Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, Minister of Agriculture and Food Security, Senator Abubakar Kyari, and senior JICA officials.

According to the ministry, “The Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, and the Honourable Minister of Agriculture and Food Security, Senator Abubakar Kyari, today met with senior representatives of the Japan International Cooperation Agency (JICA) to advance the implementation of the Food Security Emergency Loan Support Programme.”

The loan, aimed at strengthening food production systems and building resilience across Nigeria, comes at a critical time as global supply chain disruptions and rising inflation continue to challenge the country’s agricultural sector.

“The JPY 15 billion facility (approximately $110 million) aims to support Nigeria’s food production systems and enhance resilience amid ongoing global supply challenges,” the ministry stated.

As the 2025 rainy season advances, the ministers underscored the importance of swiftly executing key elements of the programme to ensure prompt assistance reaches farmers and rural communities.

“Both Ministers emphasised the importance of swift, coordinated action to maximise impact for farmers and rural communities,” the statement read.

In response, JICA reaffirmed its commitment to the partnership but requested formal clarification regarding the proposed changes to the implementation plan.

Both parties agreed to move forward with immediate production activities as planned, while components like aggregation and financing would be reassessed to ensure alignment with the original agreement.

“JICA welcomed the government’s commitment to delivery and requested formal clarification on proposed implementation adjustments. It was jointly agreed that core production activities would proceed immediately under the existing framework, while additional components, such as aggregation and financing, would be reviewed in line with the original loan agreement,” the ministry added.

The programme is a key element of Nigeria’s broader strategy to combat food insecurity, enhance agricultural productivity, and stabilise the economy through sustainable international partnerships.