By Haruna Abu-Faisal
The International Fund for Agricultural Development (IFAD) has invested $604.6 million in Nigeria’s agricultural sector between 2016 and 2023, in a bid to support farmers and promote sustainable agricultural development in the country. The investment was made through domestic and international co-financing. Over 5 million people across 28 states in Nigeria have benefited from the program, according to Abdulhameed Girai, the Monitoring and Evaluation Adviser of FGN/CPAT-Country Programme Advisory Team. The beneficiaries were part of IFAD’s Country Strategic Opportunities Programme (COSOP) over the past seven years.
At a two-day regional consultative workshop in Maiduguri, Girai highlighted some of the programs that IFAD has supported, including the Value Chain Development Programme, the Rural Finance Institution Building Programme, and the Climate Change Adaptation and Agribusiness Support Programme. These programs aim to improve agricultural productivity, promote market access for smallholder farmers, and enhance resilience to climate change.
IFAD’s investment in Nigeria’s agricultural sector is expected to have a positive impact on the country’s economy, particularly in reducing poverty, increasing food security, and promoting inclusive growth.
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