The Federal Government announced on Thursday, November 14, that it has secured a $134 million loan from the African Development Bank (AfDB).
Chief Information Officer of the Ministry of Agriculture and Food Security, Anthonia Eremah, stated that the loan will be directed toward supporting farmers in enhancing seed and grain production nationwide.
In a statement on Thursday, Eremah mentioned that the Minister made the announcement during the launch of the 2024/2025 National Dry Season Farming program in Calabar, the capital of Cross River State.
The Minister highlighted that the loan will play a crucial role in ensuring food security across Nigeria, particularly through the re-introduction of the national dry season farming initiative.
The project falls under the National Agricultural Growth Support Scheme-Agro Pocket (NAGS-AP) initiative by the Ministry of Agriculture.
Additionally, the program will provide assistance to 150,000 rice farmers in its second phase, covering all 37 states, including the FCT, with an anticipated yield of approximately 450,000 metric tonnes,” the Minister stated.
