THE World Bank (WB) has approved a $495.3 million (about N79.2 billion) International Development Association (IDA) credit to aid agricultural produce in the country.

   The bank in a statement to The Guardian, at the weekend, said the grant is aimed at improving farmers’ access to irrigation and drainage services, strengthen institutional arrangements for integrated water resources management and improve delivery of agricultural services in selected, large-scale public schemes in northern Nigeria.

   According to World Bank, the Transforming Irrigation Management in Nigeria  (TRIMING) project will improve existing irrigation on 27,000 hectares, irrigate an additional 23,000 hectares, and benefit more than 140,000 farmers while mobilizing private sector investment. 

   The project, expected to be implemented by the Federal Ministry of Water Resources (FMWR) is planned to become effective on October 1, 2014.

   It believed that the grant would mark a transformational effort to improve large-scale public irrigation for expanding food production and catalyzing economic growth in rural areas necessary to end poverty and boost prosperity, as well as enhance resilience of agriculture production systems. 

     Acting Vice President for the Africa Region, World Bank, Jamal Saghir said: “Unlocking Africa’s development potential requires interventions in key sectors such as energy and water. By taking a comprehensive approach, the TRIMING project will increase farm productivity, build climate resilience, reduce flooding risks and improve the lives and well-being of millions of Nigerian citizens in Africa’s largest economy.”

       Agriculture is a key sector of the Nigerian economy accounting for 22 percent of gross domestic product in 2012.  The government’s Agricultural Transformation Agenda (ATA) is a major initiative to drive rural income growth, accelerate achievement of food and nutritional security, and generate employment. 

    The bank’s portfolio of projects in agriculture, including on agriculture research, extension and technology dissemination, as well as market access and value addition, is fully geared towards supporting the implementation of the ATA. 

   However, it noted that reaching the ATA’s goals requires pursuing an ambitious policy and institutional reform agenda, and transforming public irrigation will play an important role for securing sustainable growth of food production.

   World Bank Country Director for Nigeria, Marie Francoise Marie-Nelly, said: “Given Nigeria’s determination to diversify and integrate its national economy to benefit all Nigerians, this project will help to advance this ambition in three vital ways, by restoring agricultural productivity, creating job opportunities for a large number of unskilled young people, as well as creating conditions for growth and peace in northern Nigeria.

   “The project will help to set-up Water User Associations (WUAs) and engage local communities in in setting, collecting, and allocating water user fees. The project will also help support the design of a comprehensive reform package for water resources management and irrigation in Nigeria.

   World Bank Task Team Leader for the TRIMING project, David Casanova, said: “The project’s innovative approach seeks to improve sustainability by promoting autonomy at scheme level and empowering Water Users Associations (WUAs) organization. We look forward to effective implementation of this important project.” he said.

http://www.ngrguardiannews.com/business/167431-nigeria-secures-world-bank-s-n79-2b-grant-for-agric-projects

good

same news.....mgbe o bula ofo ihe mtcheeeww

ye gbesè re o

I hope they utilise it well.

I just hope they use this funds wisely. We cant deny the fact that most countries operate on debts

Grant or aid is completely different from loan. Read and comprehend. But I wish the money is routed through the minister for agriculture...

Lol. We always hear good news like this everytime but the results are always long in coming.

This is not a loan to the farmers, but grant to the Federal Ministry of Water Resources (FMWR) for irrigation projects. I only hope the projects are evenly distributed across the country.

   According to World Bank, the Transforming Irrigation Management in Nigeria  (TRIMING) project will improve existing irrigation on 27,000 hectares, irrigate an additional 23,000 hectares, and benefit more than 140,000 farmer while mobilizing the private sector investment

If this grant is used well it make a difference in the agricultural sector

Is the fund for Agriculture or 2015 Election ?

Next Week headline:



[size=13pt]"Ad-Hoc Committee set up to investigate disappearance of N79.2 billion."[/size]

Hope a huge part of it won't end up in private pockets. Just a wish.


https://www.youtube.com/watch?v=4z8XZLqIMmw


https://www.youtube.com/watch?v=5vdC0i9uqRw

Following

They are borrowing for 2015 re-election campaign.

The money go don reduced to 10billion naira b4 it get to the farmers.its not new tho,its our style.its in our blood so na normal thing for us.

Election money don land!

This is a milkable project.....God knows

on what condition?

...do we have to use genetically modified seeds?....

hmm

And then we become slaves to them. Making us reel in debt. Later on it'll turn up to barrels of unaccounted oil barrels & barges missing. We are too busy getting occupied with entertainment while these 'people' work behind the scenes to control & enslave us. Naija Sorry(in femi kuti's voice)

www.globalresearch.ca/world-bank-whistleblower-reveals-how-the-global-elite-rule-the-world/5353130

Good move if they would be sincere with it

If only that money will be used to execute its purpose.

PDP-POWER.... Let's go there....... 45Percent of the population live below poverty level... Jollof

Bunch of illiterate people in here. Heading says GRANT not LOAN. Grant is given out "free".
But the west always have their way of getting things back

World bank Stop dashing our leaders money pls

spyg1: They are borrowing for 2015 re-election campaign.

Well said....2015 tinz ahead.

Who Go pay the money and how we go pay am back