The Nigerian Federal Government has secured a $134 million loan from the African Development Bank to enhance seed and grain production, aiming to strengthen food security and drive economic growth through agriculture.

The announcement was made by Sen. Abubakar Kyari, Minister of Agriculture and Food Security, during the launch of the 2024/2025 National Dry Season Farming initiative in Calabar.

The loan will support the National Agricultural Growth Support Scheme-Agro Pocket Project, which seeks to promote year-round farming to ensure a steady supply of staple crops like wheat, rice, maize, sorghum, soybean, and cassava.

The initiative aligns with the government’s declaration of a state of emergency on food production, prioritizing affordable, high-quality, and nutritious food for all Nigerians.

Kyari highlighted the program’s early successes, noting that 107,429 wheat farmers and 43,997 rice farmers were supported during the 2023/2024 dry season phases.

Additionally, 192,095 farmers across all 37 states, including the Federal Capital Territory, received assistance for rice, maize, sorghum, soybean, and cassava cultivation during the 2024 wet season.

Cross River State, a leader in wheat production, will spearhead the 2024/2025 dry season farming efforts, with over 3,000 wheat farmers enlisted for support.

The state’s prominence prompted its selection as the launch site for the national initiative.

The government’s push to bolster agriculture is seen as a critical step toward economic revival, leveraging the sector to increase food self-sufficiency and stabilize prices.

“In the 2024/2025 dry season farming, the project is targeted to support 250,000 wheat farmers across the wheat-producing states with subsidized agricultural inputs.

“250,000 hectares of land will be cultivated with an expected output of about 750,000 metric tonnes of wheat, which is to be added to the food reserve to reduce dependence on the importation of the product and also increase domestic consumption.

“The programme will also provide support to 150,000 rice farmers under the second phase to cover all 37 states, including the FCT, with an expected output of about 450,000 metric tonnes,” he said.

The Minister announced that the Economic Council approved the Greener Hope Agric Mechanization Consortium, a 10-year, $1 billion initiative.

The consortium will establish 1,000 agro centers nationwide, engaging 600,000 youths and supplying 2,000 tractors annually for five years.

Additionally, the government has started selling 30,000 metric tonnes of milled rice at a subsidized rate of N40,000 per 50kg bag across Nigeria.

This injection, equivalent to 1,000 trucks of 30MT each, aims to lower rice prices and reduce costs of other food substitutes.