The World Bank is set to approve a $500 million loan to Nigeria next month to boost agricultural productivity and strengthen key value chains across participating states.
According to official project documents released over the weekend, the loan is expected to be approved on March 30, 2026.The total operation cost and total financing for the project are both pegged at $500 million, with the entire funding provided by the World Bank’s concessional lending arm, the International Development Association (IDA), through a credit facility.
The Federal Republic of Nigeria will serve as the borrower, while implementation will be managed jointly by the Federal Ministry of Agriculture and Food Security and participating state governments. The project aims to increase smallholder productivity and enhance targeted agricultural value chains, creating better jobs and addressing the country’s persistent food and nutrition insecurity.
The initiative will be rolled out through four main components designed to strengthen the agricultural sector in selected states.
