The World Bank, International
Fund for Agricultural Development (IFAD) and the African Development Bank (ADB)
have approved $1.23 billion, about N200.3bn to boost food production in
Nigeria, according to the Federal Minister of Agriculture and Rural Development
(FMARD), Dr Akinwumi Adesina.
He disclosed this NaijaAgroNet in Abuja, during a press meeting
on the activities of the ministry, saying that $900 million was approved
by the World Bank, $250 million by ADB and $80 million by
IFAD.
He explained that the
international community is rallying round government’s effort, saying that $500
million of $900 million obtained from the World Bank was meant for agriculture,
while $400 million would support water and irrigation projects.
‘‘As you know, the World Bank has
agreed to invest $900 million behind agricultural transformation in Nigeria,
$500 million for agriculture and $400 million for water and irrigation. The
International Fund for Agricultural Development (IFAD), their board has
approved the release of $80 million to Nigeria to support the agricultural
transformation going on in Nigeria. The African Development Bank is considering
$250 million in support of the transformation agenda on agriculture,” he
said.
He further disclosed that
American billionaire and philanthropist, Bill Gates, has agreed to co-opt with
the eminent persons group to advise President Goodluck Jonathan on matters
concerning agriculture and health in the country.
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