Niger Delta: FG announces $500m for Agric business development

 

The presidency through the Vice President's office has announced a $500 million Agricultural business development fund to diversify crude oil economy in the Niger Delta Region to food sustainable more economy earnings.

NADF, NBS Partner to Drive Data-Based Agricultural Financing

 

The National Agricultural Development Fund (NADF) and the National Bureau of Statistics (NBS) have signed a Memorandum of Understanding (MoU) to strengthen agricultural data generation, validation, sharing and analysis in a move aimed at promoting evidence-based financing, policymaking and investment across Nigeria's agricultural sector.

FG set to verify farmers for food Security

The Federal Ministry of Agriculture and Food Security (FMAFS) has reaffirmed its commitment to strengthening collaboration with the National Identity Management Commission (NIMC) to establish a credible database for genuine farmers.

BOA Moves to Curb Food Price Swings

The Bank of Agriculture (BOA) has proposed a ₦200 billion Guaranteed Minimum Price Programme to protect farmers from post-harvest price crashes, stabilise food markets and shield consumers from rising food costs.

Managing Director and Chief Executive Officer of the bank, Ayo Sotinrin, unveiled the proposal during an interactive session with members of the Agricultural Correspondents Association of Nigeria (ACAN) in Abuja, describing it as a strategic intervention to reduce commodity price volatility and strengthen Nigeria's food security.

According to Sotinrin, the initiative was conceived after the sharp decline in crop prices following the 2025 wet-season harvest, which left many farmers unable to recover their production costs.

He stressed that the programme is neither a grant nor a subsidy but a market-driven price stabilisation mechanism that balances the interests of farmers, processors and consumers.

Under the proposed scheme, government would purchase grains from farmers whenever market prices fall below sustainable production costs. The commodities would be aggregated and stored in certified warehouses before being released into the market during periods of scarcity or sharp price increases to moderate food prices.

Using maize as an example, Sotinrin explained that grain prices have previously surged to about ₦550,000 per tonne before dropping significantly. He said that if prices climb to around ₦500,000 per tonne under the proposed arrangement, government-held reserves could be released at between ₦380,000 and ₦400,000 per tonne to ease pressure on consumers while recovering much of the intervention cost.

"This is not simply a farmer support programme. It is a comprehensive market stabilisation strategy designed to balance the interests of producers, processors, consumers and the Nigerian economy," he said.

He noted that the initiative would reduce distress sales by farmers, ensure more predictable raw material prices for food manufacturers, curb inflationary pressures and encourage sustained investment in agricultural production.

Sotinrin added that the proposed price support programme is part of the Bank of Agriculture's ongoing transformation agenda anchored on the "three Rs" restructuring, recapitalisation and repositioning.

He said the reforms are aimed at modernising the institution, strengthening its financial capacity and repositioning it as a technology-driven development finance bank capable of providing efficient and sustainable support to farmers and agribusinesses across the country.

The BOA chief also called on agricultural journalists to help deepen public understanding of the bank's reform initiatives, noting that increased awareness of agricultural financing programmes is critical to improving confidence in government interventions.

He reaffirmed the bank's commitment to building a transparent, inclusive and technology-driven agricultural financing system that enhances productivity, strengthens value chains and supports Nigeria's long-term food security and economic development.

Kyari, NADF Call for Innovation-Led Agriculture

 

Africa's drive to transform agriculture must move beyond simply increasing research funding to building a robust innovation ecosystem that connects scientific discoveries with industry, investment and farmers, Nigeria's Minister of Agriculture and Food Security, Senator Abubakar Kyari, and the Executive Secretary of the National Agricultural Development Fund (NADF), Mohammed Ibrahim, have said.

FMAFS lacks funding for approved food security programs

 

An active execution of food security programs in the Federal Ministry of Agriculture and Food Security ( FMAFS) has been drastically slowed down of recent due to lack of adequate funding. Food Farm News recent visit reveals.

Kaduna killings put farming under threat, ActionAid, AFAN speak

The recent Kaduna killings of people including farmers has put farming and food security under serious threat.

IBB son chairs Bank of Agric

 

The Minister of Agriculture and Food Security, Sen Abubakar Kyari, Minister of State for Agriculture and Food Security, Sen.Dr Aliyu Sabi Abdullahi and Chairman, Board of Bank of Agriculture, Alhaji Muhammad Babangida, during the inauguration ceremony.

The first son of the former Military Head of states, General Mohamed Babagida, retired has been officially empowered to chair the newly constituted board of directors of the Bank of Agriculture ( BOA).

More Northern states face hunger, $89m needed, says United Nations World Food

 

The United Nations World Food Program (WFP) has said hunger will hit more people in the Northern states of Nigeria just as the organization pleaded for an emergency $89 million to prevent more  vulnerability.

NADF Trains 1,884 Extension, Food Security Officers Nationwide

 

The National Agricultural Development Fund (NADF) has commenced a nationwide capacity-building programme aimed at strengthening Nigeria's agricultural extension system with the training of 1,884 Extension Agents and Food Security Specialists under its Grassroots Digital Extension Corps (GDEC) initiative.