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World Bank approves N6b for commercial agriculture in Nigeria
The World Bank has granted the
Federal Government's request for an additional N6 billion loan to execute the
Commercial Agriculture Development Programme (CADP) in
The bank's Country
Representative in
Ruhi was accompanied on
the visit by Vice President, Development Economics at the World Bank, Mr Justin
Yifu Lin and some members of the CADP team in
He said that the N6
billion loan was in addition to the $100 million) (N117 billion) loan already
approved for
He said the loan was
meant to support two agricultural projects (value chains) in each of the pilot
states of
Ruhi promised that the
bank would not relent in its efforts to assist Nigerian farmers to transit from
subsistence to commercial agriculture.
He said the bank was also
working toward actualising Fadama III in
In his remarks, Lin,
commended the Federal Government for its initiatives to increase food
production and mitigate the effects of the global food crisis.
He said that his visits
to some parts of
"There are lots of
untapped potential in
Speaking earlier, the
Minister of State for Agriculture, Mr. Demola Seriki, stressed the need for the
World Bank to assist Nigerian farmers in the area of human development,
capacity building and technology.
He said that such
assistance had become imperative as majority of the present crop of farmers
were aging and needed to be replaced.
He promised that the loan
provided by the bank would be judiciously used.
In his remarks, Professor
Dapo Afolabi, Permanent Secretary in the ministry, stressed the need for World
Bank to conduct a retreat on agriculture for Nigerians farmers.
He also solicited the
support of the bank in credit management
Source:
The Guardian Newspaper
September 3, 2008