The National Agricultural Development Fund (NADF) will soon introduce three processor-led financial products to enhance food security.
The announcement was made by the executive secretary of NADF, Mohammed Abu Ibrahim in Abuja yesterday.
These products are backward integration on-lending products designed for farmers with guaranteed off-take arrangements with processors to ensure a steady supply chain and market access and women in agriculture products aimed at empowering women farmers and promoting gender inclusivity in agricultural financing.
The other is agricultural infrastructure on-lending products focused on financing critical infrastructure projects, such as storage and irrigation systems to enhance farmers‘ productivity and resilience.
According to the ES, the initiatives are designed in collaboration with the Central Bank of Nigeria (CBN) to address systemic gaps that hinder agricultural development.
Ibrahim stated that NADF has developed a five-year strategic plan anchored on four key pillars: agricultural inputs, implements and mechanisation, infrastructure, and emergency response, tailored to address the immediate and long-term needs of the agricultural sector.
He said that the agency has aligned efforts with the goals of the Maputo Declaration, which calls for 10% of national budgets to be allocated to agriculture. The agency is leveraging public-private partnerships and patient capital to transform Nigeria‘s agricultural landscape.
Underlining NADF’s commitment to its mandate, Ibrahim reiterated the agency’s focus on smallholder farmers, particularly women and youth.
He noted that priority crops, including cassava, maize, rice, and cowpea, have been identified to maximise impact and reach the country‘s largest farmer base.
He said, „The launch of these processor-led products marks a significant step toward addressing Nigeria’s food security challenges.
We are determined to be methodical, data-driven, and focused in our approach to transform the agricultural sector.“
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