FG Inks $158.15m Deal to Boost Agribusiness,Jobs in Northern Nigeria

ABUJA, NIGERIA – The Federal Government has formalized a significant financial agreement totaling $158.15 million to implement the Value Chain Programme (VCN), an ambitious eight-year initiative aimed at revolutionizing agribusiness across nine states in Northern Nigeria. The landmark pact was signed today, paving the way for immediate commencement of the project.

Conceived following a direct appeal by Vice President Kashim Shettima during the United Nations Food Systems Summit (UNFSS) stocktaking event in Rome, Italy on July 24, 2023, the VCN programme is strategically designed to create over 30,000 jobs and foster numerous entrepreneurial opportunities specifically targeting youths, women, and vulnerable populations within the region.

A key component of the programme includes the construction of over 229 kilometers of roads throughout the beneficiary states. This critical infrastructure development is intended to significantly improve access to markets for farmers, thereby reducing post-harvest losses and enhancing the overall efficiency of agricultural value chains.

The substantial funding for the VCN programme is a collaborative effort between the International Fund for Agricultural Development (IFAD), the French Development Agency (AFD), and the Government of Nigeria, underscoring the commitment of both international partners and the Nigerian government to the agricultural transformation of the North.

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The nine northern states poised to benefit from this transformative initiative are Borno, Bauchi, Kano, Katsina, Kebbi, Jigawa, Sokoto, Yobe, and Zamfara. The programme will focus on supporting the development and value addition within key agricultural value chains, ultimately aiming to increase the income and livelihoods of smallholder farmers and contribute to the economic diversification of the region.

With the signing of this financing agreement, stakeholders anticipate a significant boost to agricultural productivity, enhanced market linkages, and the creation of sustainable economic opportunities across the northern landscape. The immediate commencement of the VCN project signals a determined effort to translate vision into tangible improvements for the agricultural sector and the communities it supports.