AfricaTopSuccess They make Africa
Nigeria has secured a $134 million loan from the African Development Bank (AfDB) to revitalize its agricultural sector, at a time when food security is a major concern in Africa’s most populous country.
The funding is aimed at increasing seed and cereal production in the country in order to ensure national food security, announced the Ministry of Agriculture.
A recent Harmonized Framework report, written in collaboration with Nigerian officials, UN agencies and humanitarian NGOs, predicts that more than 33 million Nigerians could go hungry next year.
“The government intends to use the agricultural sector to boost the national economy by increasing the production of certain staple food crops such as wheat, rice, maize, sorghum, soybeans and cassava,” the ministry statement said.
The AfDB loan will be used to help 250,000 wheat farmers and 150,000 rice farmers.
The Tinubu government has responded to food shortages and inflation by temporarily suspending customs duties on certain imports.
The United Nations has urged foreign donors and the Nigerian government to do more to stem the crisis.
