Breaking News

World Bank approves N80bn to boost agriculture in Nigeria

The World Bank said it had approved 495.3 million dollars (about N80.7 billion) to boost agriculture  in Northern Nigeria.This is contained in a statement issued by Mr Bamidele Oladokun, Communications Associate to the World Bank, in Abuja.

The statement said that the bank’s executive directors approved the money to improve farmers’ access to irrigation and drainage services.

It stated that the money  was also to strengthen institutional arrangements for integrated water resources management.“The board also intends to enhance delivery of agricultural services in selected large-scale public schemes in the Northern Nigeria.

“This will be done through a project,  ”Transforming Irrigation Management in Nigeria (TRIMING).

“TRIMING will improve existing irrigation on 27, 000 hectares, irrigate an additional 23, 000 hectares, and benefit more than 140, 000 farmers, while mobilising private sector investment.

“It marks a transformational effort to improve large-scale public irrigation for expanding food production and encourage economic growth in rural areas.

“This is necessary to end poverty and boost prosperity, as well as enhance resilience of agriculture production systems,” the statement  said.

It  quoted the bank’s acting Vice-President for Africa Region, Mr Jamal Saghir, as saying that, “unlocking Africa’s development potential requires interventions in key sectors, such as energy and water.

“By taking a comprehensive approach, the TRIMING project will increase farm productivity, build climate resilience and reduce flooding risks.

“It will also improve the lives and well-being of millions of Nigerian citizens in Africa’s largest economy.”

The statement said  that agriculture was a key sector of the Nigerian economy accounting for 22 per cent of gross domestic product in 2012.



Comments expressed here do not reflect the opinions of vanguard newspapers or any employee thereof.