KEY POINTS

• The World Bank approved a $500m IDA credit for Nigeria’s AGROW project on March 30, 2026, targeting smallholder productivity across rice, maize, cassava and soybean value chains
• AGROW will support agribusinesses through a results-based matching grant and build a national digital farm registry with localized weather and climate advisory services
• The six-year programme (2026-2032) targets one million farmers and expects to attract $220m in private agribusiness investment

The World Bank has approved $500 million in Nigeria agriculture funding through its International Development Association arm, backing the Nigeria Sustainable Agricultural Value Chains for Growth project, known as AGROW, to boost smallholder productivity, strengthen market linkages and improve food security.

The bank approved the credit on March 30, 2026, noting that agriculture remains the country’s largest source of employment but continues to underperform. Low productivity, limited access to quality inputs, climate shocks and weak market linkages have kept millions of smallholder farmers trapped in subsistence farming.

Digital tools and input reforms at the core of Nigeria agriculture funding

AGROW will support agribusinesses that source produce from smallholder farmers through a results-based matching grant facility, covering aggregation, post-harvest handling, agro-processing and improved market access. Priority crops include rice, maize, cassava and soybeans.

Moreover, the programme will strengthen agricultural research and extension services, expand access to climate-resilient seeds and establish a national digital farm and farmer registry. Farmers will also gain access to digital advisory services, including localized weather and climate information to sharpen decision-making.

The project also targets improvements in seed and fertilizer regulatory systems and expanded private sector production of high-quality inputs, with a focus on promoting responsible land-based investments.

World Bank Country Director for Nigeria Mathew Verghis described the initiative as a fundamental shift for the sector. “AGROW is a transformative step for Nigeria’s agriculture, empowering smallholder farmers, unlocking private sector-led growth and strengthening food security in a sustainable way,” he said.

Scale, private capital and inclusion goals

Verghis added that the project could benefit up to one million smallholder farmers and raise yields across targeted crops, while also helping ensure improved food and nutrition security and greater climate resilience among farmers across participating states.

The Nigeria agriculture funding will run from 2026 to 2032, with the programme expecting to attract an additional $220 million in private agribusiness investment. Furthermore, the initiative will prioritize women and youth through strong coordination, monitoring and citizen engagement mechanisms.

Meanwhile, the approval adds to Nigeria’s exposure to World Bank financing. Data from the Debt Management Office shows Nigeria’s World Bank Group debt at $19.54 billion as of September 30, 2025, representing 40.34 percent of the country’s total external debt of $48.46 billion.