World Bank Group Approves $500M for Nigeria's AGROW
Analysis based on 20 articles · First reported Apr 01, 2026 · Last updated Apr 02, 2026
The approval of a $500 million credit by the World Bank Group to Nigeria for agricultural development is expected to positively impact Nigeria's economy by boosting food security, creating jobs, and attracting private investment. This could lead to increased stability and growth in the agricultural sector, which is a significant employer in Nigeria.
The World Bank Group has approved a $500 million credit facility through the International Development Association (IDA) to support Nigeria's agricultural sector. This funding will finance the Nigeria Sustainable Agricultural Value Chains for Growth Project (AGROW), a six-year program from 2026 to 2032. The project aims to enhance smallholder farmers' productivity, strengthen market linkages, create jobs, and improve food and nutrition security. It will support agribusinesses sourcing from smallholder farmers through a results-based matching grant scheme, focusing on key crops like rice, maize, cassava, and soybeans. The initiative also includes strengthening agricultural research, expanding access to climate-resilient seeds, and establishing a national digital farm and farmer registry. Mathew Verghis, World Bank Group Country Director for Nigeria, highlighted AGROW as a transformative step for the country's agriculture, expected to benefit up to one million farmers and mobilize an additional $220 million in private agribusiness investment. This project addresses Nigeria's long-standing structural challenges in agriculture, including low productivity and limited access to quality inputs.
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