The National Agricultural Development Fund and the Niger State Government have signed a co-financing agreement worth N5bn.
This was disclosed in a statement on Tuesday by the Executive Secretary of NADF, Muhammed Ibrahim.
He stated, “This partnership agreement is a major milestone between NADF and the Niger State Government with each partner providing N2.5bn to fund a large-scale mixed cropping initiative for the primary production of rice and maize production across 4,000 hectares targeting 4000 smallholder farmers across three local government areas of Niger State.”
He added that, under the agreement, the National Agricultural Development Fund will provide a technical advisory role and monitoring and evaluation of the project, with Niger Foods Company expected to provide off-take and market access responsibilities.
Ibrahim, the Executive Governor of Niger State, Umar Bago, the Managing Director of Niger State Foods Company, and other key stakeholders were in attendance at the landmark event.
“Today’s event remains very historic in our effort to boost agriculture through joint funding of large hectares of land to produce food and improve food security for the benefit of our people in line with our mandate. We are indeed excited to witness the first of agriculture financing agreements with Niger State and the Niger Foods Limited,” Ibrahim said.
While enumerating the strategic importance of the N5bn agreement, Ibrahim, said, “This agreement is aimed at producing over 20,000 tons of food and impacting at least 40,000 lives while creating employment and wealth generation for smallholder farmers and other demography in line with the Renewed Hope Agenda of our leader, President Bola Ahmed Tinubu”.
Bago emphasised the critical need for self-reliance in food production.
“In line with the President’s Food Security Initiative, it is imperative for us to achieve food sovereignty. We have abundant resources, water bodies, and arable land – and we must put them to productive use. This initiative, anchored by Niger Foods, represents a bold step in the right direction,” he said.
“This project, co-funded equally by NADF and the Niger State Government, will not only enhance food production but also create employment opportunities and improve the livelihoods of thousands of residents of our state as a testament to our shared commitment to feeding ourselves and securing a prosperous future for Niger State and Nigeria,” he added.
Recall that NADF and the Niger State Government had signed a Memorandum of Understanding in 2024, leading to the signing of the funding agreement between NADF, Niger Foods, and the Niger State Government, setting the stage for transformative growth towards achieving food security and self-sufficiency in Nigeria.
