News in Brief:
– The NADF and Niger State Government have partnered on a ₦5 billion agricultural initiative.
– This joint venture aims to boost food production, enhance food security, and create employment opportunities for smallholder farmers in Niger State by supporting rice and maize cultivation on 4,000 hectares of land.
The National Agricultural Development Fund (NADF), a government-established financial institution aimed at promoting agricultural development in Nigeria, has entered into a ₦5 billion co-financing agreement with the Niger State Government to enhance agricultural productivity and improve food security.
The partnership, involving NADF and the Niger State Government each contributing ₦2.5 billion, will fund a large-scale mixed cropping initiative across 4,000 hectares of land in three local government areas of Niger State. The project aims to benefit 4,000 smallholder farmers through the cultivation of rice and maize.
Roles and responsibilities
NADF will provide technical guidance and oversee project monitoring and evaluation, leveraging its expertise in agricultural development. Meanwhile, Niger Foods Company will be responsible for off-taking and marketing the agricultural produce, ensuring a viable market for the farmers.
During the signing ceremony, NADF Executive Secretary Muhammed Abu Ibrahim stressed the significance of this joint venture, stating it aligns with the fund’s mandate to boost agricultural production and improve food security for Nigerians.
Furthermore, he expressed excitement at witnessing the agency’s first agriculture financing agreements with Niger State and the Niger Foods Limited.
State commitment to food self-reliance
Governor Umar Mohammed Bago of Niger State underscored the importance of achieving food self-reliance, aligning with President Bola Ahmed Tinubu’s food security initiative. He highlighted the state’s abundant resources and the need to leverage them for productive agricultural endeavours.
Essentially, the project is expected to yield over 20,000 tons of food, create employment opportunities, and improve the livelihoods of thousands of residents in Niger State.
It is worth noting that this agreement follows a Memorandum of Understanding (MoU) signed last year between NADF and the Niger State Government, paving the way for this transformative initiative towards achieving food security and self-sufficiency in Nigeria.
