The National Agricultural Development Fund (NADF) and the Niger State government have signed a co-financing agreement amounting to N5 billion.
According to the partnership agreement, both NADF and the Niger State government will provide N2.5 billion to fund a large-scale mixed cropping initiative to produce rice and maize on 4,000 hectares of land.
The deal is expected to benefit at least 4, 000 smallholder farmers in three local government areas of the State.
The fund said in Abuja on Tuesday, it will provide technical advisory role, monitoring and evaluation of the project with Niger Foods Company expected to provide off take and market access responsibilities.
The statement noted that the executive secretary of NADF, Muhammed Abu Ibrahim, Niger State governor, Umar Mohammed Bago, and the managing director of Niger State Foods Company and other key stakeholders were in attendance at the signing ceremony.
In his remarks, Ibrahim noted, “Today’s event remains very historic in our effort to boost agriculture through joint funding of large hectares of land to produce food and improve food security for the benefits of our people in line with our mandate.
We are indeed excited to witness the first of agriculture financing agreements with Niger State and the Niger Foods Limited”.
This agreement is aimed at producing over 20,000 tons of food and impacting at least 40,000 lives while creating employment and wealth generation for smallholder farmers and other demography in line with the Renewed Hope Agenda of our leader, President Bola Ahmed Tinubu”.
In his response, Niger State governor, Umar Mohammed Bago said, “In line with the President’s Food Security Initiative, it is imperative for us to achieve food sovereignty.
We have abundant resources-rain, water bodies, and arable land – and must put them to productive use. This initiative, anchored by Niger Foods, represents a bold step in the right direction”.
The governor noted that the project will not only enhance food production but also create employment opportunities and improve the livelihoods of thousands of residents of the state as a testament to a shared commitment to feeding the state and securing a prosperous future for Niger State and Nigeria.
