In 2024, the Federal Government, through the Ministry of Agriculture and Food Security, secured over $600 million in foreign loans to enhance food security and support rural development.
According to the ministry’s website, a $134 million loan from the African Development Bank will focus on improving seed and grain production nationwide. The loan is part of a broader effort to support farmers in boosting crop yields across the country.
Additionally, the government has obtained a $500 million loan from the World Bank through the Rural Access and Agricultural Marketing Project (RAAMP), bringing the total funding to $634 million. This initiative aims to strengthen the connection between rural communities and larger markets by improving access to agricultural hubs, schools, and hospitals, contributing to both social and economic development in rural areas.
The Minister of State for Agriculture and Food Security, Aliyu Abdullahi, outlined the criteria for states to access RAAMP funds, including the establishment of functional Roads Funds and Roads Agencies. RAAMP National Coordinator, Aminu Mohammed, emphasized that the project’s primary goal is to improve rural roads and trading infrastructure to increase food production.
Currently active in 19 states, the RAAMP project will distribute funds based on socioeconomic indicators, states’ readiness for implementation, and co-financing commitments.
The next phase of the project will involve an additional $500 million investment from the World Bank, supported by $100 million in counterpart funding from both federal and state governments. The initiative also aims to boost women’s involvement in the transport sector through the creation of Rural Access Road Authorities.
