World Bank backs Nigeria’s agriculture with $500m credit
The World Bank has approved a $500m credit to support Nigeria’s agricultural sector through the Nigeria Sustainable Agricultural Value Chains for Growth Project (AGROW). The initiative aims to help smallholder farmers, improve productivity, and create jobs across the country. Mathew Verghis, World Bank Country Director for Nigeria, described the project as transformative for the sector. Several key crops and agribusinesses are set to benefit from improved access to resources and market linkages.
TLDR
- The World Bank approved a $500m International Development Association credit for Nigeria’s AGROW project.
- The project will focus on increasing productivity, strengthening value chains, and creating jobs for smallholder farmers.
- AGROW will support agribusinesses, improve seed and fertiliser systems, and expand access to climate-resilient seeds.
- The initiative aims to benefit up to one million smallholder farmers and attract $220m in private investment.
- Nigeria’s exposure to the World Bank Group stood at $19.54bn as of September 30, 2025.
