World Bank plans $500m loan to boost Nigeria’s agriculture
The World Bank is preparing to approve a $500m loan for Nigeria to support agricultural productivity and value chains. The project aims to help smallholder farmers, create jobs, and modernise agriculture across participating states. Nigeria will receive the funding through the International Development Association, with the Federal Ministry of Agriculture and Food Security leading implementation. The initiative is aligned with the Federal Government’s Renewed Hope Agenda and seeks to mobilise private capital for rural development.
TLDR
- The World Bank’s Project Information Document lists an estimated approval date of March 30, 2026 for the $500m loan.
- The entire financing will be provided as an “IDA Credit” to the “Federal Republic of Nigeria.”
- The project, called AGROW, aims to increase smallholder productivity, strengthen value chains, and promote value addition.
- As of December 31, 2025, Nigeria’s debt to the International Development Association reached $18.7bn, making it the third-largest borrower.
- By June 30, 2025, Nigeria’s external debt stood at $46.98bn, with the World Bank Group accounting for $19.39bn of this amount.
