Over $600 million in foreign agricultural loans have been obtained by the Nigerian government through the Ministry of Agriculture and Food Security in 2024 to promote rural development and food security.
The ministry’s website states that the government secured a $134 million financing facility from the African Development Bank to increase the country’s output of grain and seeds.
“To help farmers increase seed and grain production in the country, the Nigerian government has obtained a loan facility of $134 million from the African Development Bank,” the statement said.
Through the Rural Access and Agricultural Marketing Project (RAAMP), the Nigerian government also obtained a $500 million loan from the World Bank, increasing the total amount to $634 million.
The project will encourage social and economic growth in rural areas while enhancing access to hospitals, schools, and agricultural hubs. Its goal is to close the gap between rural communities and larger markets.
The establishment of operational road funds and road agencies is one of the requirements states must fulfil in order to receive RAAMP monies, according to Aliyu Abdullahi, Minister of State for Agriculture and Food Security.
Aminu Mohammed, the RAAMP National Coordinator, emphasised the project’s emphasis on rural infrastructure:
“Improving rural roads and trading infrastructure is the main goal of RAAMP to increase food production,” Mohammed stated.
The initiative, which is presently underway in 19 states, will distribute funds in a competitive manner according to socioeconomic factors, implementation preparedness, and state co-finance pledges.
The project also attempts to promote women’s representation in the transport industry through the development of rural access road authorities.
The World Bank will contribute $500 million in the second phase of RAAMP, with the federal and state governments contributing $100 million in matching funds.
Farmers throughout Nigeria have criticised the Nigerian government’s agricultural initiatives as being selective and badly executed, despite its attempts to increase agricultural activity through mechanisation, irrigation facilities, and, in certain circumstances, financial support.
Many contend that the programmes mostly help well-connected people, leaving off smallholder farmers, who are the foundation of Nigeria’s agriculture industry.
La’ah Dauda, a farmer from Kaduna, called the initiatives “very selective,” adding that “even the data is scarce. They only raise awareness in areas that they find appealing. If others are left out, how can you attract new farmers?”
