https://en.sputniknews.africa/20240209/african-development-bank-commits-540-million-to-transform-nigerias-agriculture-1064989030.html
African Development Bank Commits $540 Million to Transform Nigeria's Agriculture
African Development Bank Commits $540 Million to Transform Nigeria's Agriculture
Sputnik Africa
The agricultural sector in Nigeria faces challenges that hamper agricultural activities, including climate change, which leads to declining crop yields and... 09.02.2024, Sputnik Africa
2024-02-09T14:48+0100
2024-02-09T14:48+0100
2024-02-09T14:48+0100
sub-saharan africa
economy
nigeria
russia
african development bank (afdb)
agriculture
development
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west africa
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The African Development Bank (AfDB) has pledged $540 million to boost agricultural development in Nigeria. The funds will be distributed across seven states to kick-start the establishment of Special Agro-Industrial Processing Zones (SAPZs), according to AfDB spokesperson Banji Oyelaran-Oyeyinka.These SAPZs are designed to revitalize rural areas by leveraging their agricultural and food processing capabilities to become economic hubs.The main goal of AfDB's initiative is to promote comprehensive and sustainable agricultural-industrial growth in Nigeria, aiming to combat food insecurity within the country. Additionally, a recent significant move saw Russia's Uralchem Group, a prominent global mineral fertilizer producer, deliver a substantial 34,000-ton shipment of potash to Nigeria's Onne port at no cost. This gesture was seen as an important step by Nigerian experts towards enhancing agricultural output and overcoming the longstanding challenge of fertilizer shortages, hindering agricultural productivity improvements in Nigeria and various other African nations.
https://en.sputniknews.africa/20240201/free-russian-fertilizer-to-boost-nigerias-agriculture-signifies-strengthening-ties-experts-1064868012.html
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economy, nigeria, russia, african development bank (afdb), agriculture, development, farmers, west africa
economy, nigeria, russia, african development bank (afdb), agriculture, development, farmers, west africa
African Development Bank Commits $540 Million to Transform Nigeria's Agriculture
Muhammad Nooh Osman
Writer/Editor
The agricultural sector in Nigeria faces challenges that hamper agricultural activities, including climate change, which leads to declining crop yields and vulnerability to extreme weather events. In addition, issues related to irrigation and fertilizer scarcity further impact productivity and food security.
The African Development Bank (AfDB) has pledged $540 million to boost agricultural
development in Nigeria.
The funds will be distributed across seven states to kick-start the establishment of Special Agro-Industrial Processing Zones (SAPZs), according to AfDB spokesperson Banji Oyelaran-Oyeyinka.
These SAPZs are designed to revitalize rural areas by leveraging their agricultural and food processing capabilities to become economic hubs.
The main goal of AfDB's initiative is to promote comprehensive and sustainable agricultural-industrial growth in Nigeria, aiming to combat food insecurity within the country.
Additionally, a recent significant move saw Russia's Uralchem Group, a prominent global mineral fertilizer producer, deliver a substantial
34,000-ton shipment of potash to Nigeria's Onne port at no cost.
This gesture was seen as an important step by Nigerian experts towards enhancing agricultural output and overcoming the longstanding challenge of fertilizer shortages, hindering agricultural productivity improvements in Nigeria and various other African nations.
