Federal Government, through the Ministry of Agriculture and Food Security, secured more than $600 million in foreign loans to strengthen food security and foster rural development in 2024.
According to the ministry’s official website, a loan of $134 million was acquired from the African Development Bank to boost seed and grain production across the country.
“The Federal Government has secured a loan facility of $134m from the African Development Bank to help farmers boost seeds and grain production in the country,” the statement revealed.
Moreover, the government, through the Rural Access and Agricultural Marketing Project, obtained an additional $500 million loan from the World Bank, bringing the total funding to $634 million.
This initiative is designed to bridge the gap between rural communities and larger markets, improving access to agricultural hubs, schools, and hospitals, while promoting social and economic growth in rural areas.
Aliyu Abdullahi, Minister of State for Agriculture and Food Security, outlined the requirements for states to access RAAMP funds, including the establishment of functional Roads Funds and Roads Agencies.
The RAAMP National Coordinator, Aminu Mohammed, emphasized the project’s primary focus on rural infrastructure, “The primary objective of RAAMP is to improve rural roads and trading infrastructure to boost food production,” Mohammed said.
The project, currently active in 19 states, will distribute funds competitively, taking into account socioeconomic indicators, the states’ readiness for implementation, and their co-financing commitments.
The initiative also aims to enhance women’s involvement in the transport sector through the establishment of Rural Access Road Authorities.
The next phase of RAAMP will see a $500 million investment from the World Bank, bolstered by $100 million in counterpart funding from both federal and state governments.
Despite the government’s initiatives to advance agricultural activities through mechanization, irrigation, and funding, Nigerian farmers have voiced concerns over the selective nature and poor implementation of these programs.
Many argue that the initiatives largely benefit well-connected individuals, leaving smallholder farmers, who are the backbone of Nigeria’s agricultural sector, excluded.
La’ah Dauda, a farmer based in Kaduna, criticized the interventions as “highly selective,” further commenting, “Even the information is limited. They create awareness only in areas they favour. How favour you attract new farmers if others are excluded?”
Chairman of the All Farmers Association of Nigeria in Abuja, Ifraimu Dauda, also pointed out the challenges of irrigation farming costs and the lack of adequate government support.
