News in Brief:
– Nigeria’s agriculture ministry request additional funding from the International Fund for Agricultural Development (IFAD) to support two ongoing projects.
– It mentioned that it requires $20 million for the second pahse of a livelihood improvement program and a $5 million grant for a value chain development project.
Nigeria’s Minister of Agriculture and Food Security, Senator Abubakar Kyari, has appealed to the International Fund for Agricultural Development (IFAD) for additional financial support for two ongoing agricultural initiatives.
The appeal was made during a meeting with the Associate Vice President of the IFAD Donal Brown, in the Federal Capital Territory.
According to Kyari, the funds are meant to finance two agricultural initiatives in the country. These include a $20 million in additional financing for phase two of the Livelihood Improvement Family Enterprise â Niger Delta (LIFE-ND) program. Additionally, it needs a $5 million grant for the Value Chain Development Program (VCDP) to enhance its effectiveness in addressing food security challenges.
The agriculture minister noted the critical role the development organisation plays in tackling global food system issues. He expressed Nigeria’s strong commitment to agricultural development and improving rural livelihoods.
Kyari highlighted the potential of three IFAD-supported programs â Inclusive Agri-Food System Transformation, Smallholder Farmers’ Empowerment, and Innovative Financing â to accelerating growth within the global food system.
Responding, the Associate Vice President of IFAD, Donal Brown, reaffirmed the organisation’s commitment to strengthening its existing partnership with Nigeria. He acknowledged the Nigerian government’s pledge to settle outstanding dues, signifying their dedication to fostering a robust collaboration.
The partnership signifies Nigeria’s commitment to strengthening its agricultural sector and improving food security.
