- The World Bank has officially approved a $500 million International Development Association (IDA) credit to support the Nigeria Sustainable Agricultural Value Chains for Growth Project, also known as AGROW.
- The initiative aims to benefit up to one million smallholder farmers by improving productivity, strengthening market linkages, and increasing yields for key crops such as rice, maize, cassava, and soybeans.
- Scheduled to run from 2026 to 2032, the project focuses on transitioning subsistence farming into commercially viable agribusinesses while enhancing resilience to climate shocks.
The World Bank has taken a major step toward transforming Nigeria’s agricultural landscape with the approval of a $500 million credit facility.
Eko Hot Blog reports that the announcement was made on Thursday, April 2, 2026, that the AGROW project is designed to address structural constraints that have historically limited the sector’s potential despite it being the country’s largest source of employment.
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The project will establish a results-based matching grant facility to support agribusinesses that source produce from smallholder farmers.
Key areas of focus include aggregation, post-harvest handling, and agro-processing. Furthermore, the initiative seeks to modernize the sector by creating a national digital farm and farmer registry, alongside providing digital advisory services for localized weather and climate information.
World Bank Country Director for Nigeria, Mathew Verghis, described the project as a transformative move for the nation.
“AGROW is empowering smallholder farmers, unlocking private sector-led growth, and strengthening food security in a sustainable way,” Verghis stated.
He noted that the project is expected to mobilize an additional $220 million in private agribusiness investment over its six-year lifespan.
Beyond direct farmer support, the funding will be used to improve seed and fertilizer regulatory systems and enhance the supply of high-quality, climate-resilient inputs.
The program also places a strong emphasis on the inclusion of women and youth to ensure broad-based economic growth.
This latest credit adds to Nigeria’s significant portfolio with the World Bank. Recent data from the Debt Management Office shows that Nigeria’s exposure to the World Bank Group stood at $19.54 billion as of late 2025, representing approximately 40% of the country’s total external debt stock.
