March 26, 2025
The African Development Bank Group, AfDB, has launched a new Country Strategy Paper to boost agriculture and enhance economic growth in Nigeria.
The bank announced the development when a delegation led by it Director General of Nigeria Country Department, Dr. Abdul Kamara, met with Nigeria’s Finance Minister, Wale Edun to deepen collaboration in key sectors.
The launch of a new Country Strategy Paper, reaffirmed AfDB’s commitment to transformative projects in Nigeria, which include the second phase of the National Agricultural Growth Scheme, NAGS, focused on food security and rural development.
Kamara, also highlighted infrastructure progress in the Special Agro-Industrial Processing Zones, with advancements in Sokoto and planned expansions in Cross River and Kaduna States.
The AfDB emphasized its support for youth entrepreneurship through initiatives like the Youth Enterprise Investment Fund, designed to create jobs and drive economic inclusion.
Nigeria’s Finance Minister, Wale Edun, acknowledged AfDB’s role as a pivotal partner in Nigeria’s revitalization, particularly in agriculture, infrastructure development, and youth empowerment.
READ MORE; Nigeria’s Agribusiness Sector Maintains Positive Outlook In 2025
The 2023 Dakar 2 Feed Africa Summit, had propelled progress in the agricultural sector with Thirty-four African heads of state committed to advancing food security and sovereignty. Financial pledges from development partners have increased from an initial $30 billion to $72 billion in under a year.
The African Development Bank alone has committed $10 billion, approving 77 projects worth $3.9 billion in 32 countries, with plans to approve an additional $1.72 billion this year.
Despite these advancements, significant challenges remain. Only 6% of African smallholder farmers currently have access to credit, and fewer than 20% use improved seeds.
