In 2024, the Federal Government, via the Ministry of Agriculture and Food Security, secured more than $600 million in foreign agricultural loans to enhance food security and promote rural development.
The government secured a $134 million loan facility from the African Development Bank to increase seed and grain output across the country, according to information from the ministry’s website.
“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 read.
In addition, the Federal Government, through the Rural Access and Agricultural Marketing Project, secured a $500m loan from the World Bank bringing the fund to $634m.
The initiative, aimed at bridging the gap between rural communities and larger markets, will improve access to agricultural hubs, schools, and hospitals while fostering social and economic development in rural areas.
The Minister of State for Agriculture and Food Security, Aliyu Abdullahi, outlined the conditions states must meet to access RAAMP funds, including establishing functional Roads Funds and Roads Agencies.
RAAMP National Coordinator, Aminu Mohammed, highlighted the project’s 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 allocate funds competitively based on socioeconomic indicators, readiness for implementation, and co-financing commitments by states.
The initiative also seeks to improve women’s representation in the transport sector through the establishment of Rural Access Road Authorities.
The next phase of RAAMP will involve a $500m investment from the World Bank, supported by $100m in counterpart funding from federal and state governments.
Despite the Federal Government’s efforts to boost agricultural activities through mechanisation, irrigation facilities, and provision of funds in some cases, farmers across Nigeria have criticized its agricultural interventions as selective and poorly implemented.
Many claim the initiatives primarily benefit connected individuals, excluding smallholder farmers who form the backbone of Nigeria’s agricultural sector.
Kaduna-based farmer La’ah Dauda described the interventions as “highly selective,” adding, “Even the information is limited. They create awareness only in areas they favour. How favour you attract new farmers if others are excluded?”
The All Farmers Association of Nigeria’s chairman, Ifraimu Dauda, observed in Abuja the high expense of irrigation farming and the lack of government assistance.
