World Bank Backs Nigeria With $500m Funding
The World Bank has approved a $500 million credit facility for Nigeria to support agricultural value chains and boost food production across the country.
The funding is aimed at improving key stages from farming to processing and distribution.
The support is expected to strengthen farmers’ capacity, improve access to markets, and reduce post-harvest losses.
It also targets better infrastructure and services that can help grow agribusiness and increase output nationwide.
Officials say the initiative will create jobs and support rural communities by making agriculture more productive and sustainable.
The plan focuses on linking farmers to industries and expanding opportunities within the sector.
The credit forms part of broader efforts to improve food security and drive economic growth, with authorities hopeful it will ease pressure on food supply and prices in the coming months.
