FG, World Bank Agrees $700m Deal To Boost Rural Agriculture, Others

In a bid to combat the rising crisis in the rural agriculture sector, the federal government has reached an agreement with the World Bank in a deal worth $700 million.

Speaking at a media briefing in Abuja over the weekend, the Minister of State for Agriculture and Food Security, Senator Sabi Abdullahi, noted that the Rural Access and Agricultural Marketing Project (RAAMP) will create a pathway for farmers to market their agricultural products.

He also stated that while RAAMP might not be the priority of every state due to limited funds allocated to each, he warned that the agricultural sector would suffer significantly if food insecurity is not addressed.

He said, “We believe that if this is implemented, it will create new development domains, establish new corridors, and develop agricultural clusters that will support our economic diversification drive. It will also provide a new pathway for transporting raw materials and food for both consumption and agro-industry use.

“Our belief is that if we develop production clusters, make investments, and achieve increased production, yet rural access and marketing remain a problem, then we are not fully solving the issue.

“So, we believe the federal component will allow us to address areas where it is not a high priority for states. Every state has its own priorities, and given the limited scale of funds, they may not be able to undertake these interventions.

“The loss will ultimately count against the country because when there is food insecurity, it is the nation that suffers the overall impact.

“This federal component will enable us to intervene in selected and strategic locations where there is significant agricultural activity, allowing for the evacuation of food while simultaneously promoting the marketing of these products.”