The World Bank will approve $500 million loan to Nigeria for the AGROW project, aiming to boost smallholder productivity, strengthen agricultural value chains, and attract private investment.
By Juliet Ezeh
The World Bank is set to approve a $500 million loan to Nigeria on March 30, 2026, to fund the Nigeria Sustainable Agricultural Value-Chains for Growth (AGROW) project. The funding will come through the International Development Association (IDA), the Bank’s concessional lending arm, designed to support developmental projects in low-income countries.
The AGROW project is intended to increase productivity among smallholder farmers and enhance agricultural value chains across participating states. It will focus on modernizing production techniques, integrating farmers into national and regional output markets, and improving conditions for private investment in critical inputs such as seeds and fertilizers.
The initiative comes at a time when agriculture remains a central pillar of Nigeria’s economy, employing roughly one-third of the national workforce and playing a key role in addressing food insecurity. The funding is expected to help farmers access improved technologies, expand market opportunities, and contribute to overall economic resilience.
This loan adds to Nigeria’s existing engagement with the IDA, where the country’s exposure stood at $18.7 billion as of late 2025, making it the third-largest borrower in the portfolio. It also follows a separate $500 million approval in December 2025 for the FINCLUDE project, which supports financial inclusion for micro, small, and medium-sized enterprises (MSMEs) across the country.
Officials expect that the AGROW project will not only improve agricultural output but also create a more attractive environment for private sector investment, ultimately strengthening Nigeria’s food security and economic stability over the coming years.
Juliet Ezeh is the founder and chief reporter at Westbridge Reporters with over 7 years of experience in journalism. She covers crime, industry, policy, and social developments, delivering timely and accurate reporting.