IFAD’s support of smallholder farmers hits $1.5b

The International Fund for Agricultural Development (IFAD) has invested more than $1.5 billion in aiding smallholder rural farmers in Nigeria since 1978. Dr. Donal Brown, the Associate Vice President of IFAD, disclosed this during a media briefing concluding his five-day official visit to Nigeria. He mentioned that IFAD has financed 12 projects totaling $1,586.14 million, including $546.59 million from IFAD’s own funds, directly benefiting nearly 3,912,180 rural households in Nigeria.
Dr. Brown stated, “We have been involved in Nigeria since 1978 and have invested $1.5 billion. Our current portfolio is approximately $400 million, with investments ranging from $100 to $110 million every three years. We are also looking forward to new investments. We are not a humanitarian agency; we collaborate with poor rural communities and smallholder farmers to enhance food security and agriculture. Our projects have significantly contributed in this regard. I am impressed with the new government’s dedication and commitment to addressing issues effectively. Nigeria faces numerous challenges, such as inflation and food insecurity, highlighted by the President’s declaration of a food security emergency.”
Brown expressed confidence that IFAD can positively impact this situation, noting that the new government will be a strong partner. He emphasized that IFAD possesses the expertise to support the government’s efforts to address food security and is committed to developing long-term solutions. Source: The Guardian


OUR REVIEW
The International Fund for Agricultural Development (IFAD) has invested over $1.5 billion in supporting smallholder rural farmers in Nigeria since 1978, significantly impacting the agri-food value chain. By financing 12 projects totaling $1,586.14 million, IFAD has directly benefited nearly 3.9 million rural households, enhancing food security and agricultural productivity. Dr. Donal Brown highlighted that IFAD’s continued investments, averaging $100-$110 million every three years, are crucial for sustaining growth and development in Nigeria’s agriculture sector. This substantial investment fosters growth by improving farming techniques, increasing crop yields, promoting sustainable practices, stabilizing food supplies, and reducing poverty. IFAD’s collaboration with the new government, committed to tackling food insecurity and inflation, is vital. Such partnerships can lead to the implementation of effective policies and long-term solutions, ultimately strengthening the entire agri-food value chain.
For stakeholders, including policymakers, investors, and farmers, understanding IFAD’s role and strategies provides insights into making informed decisions that support sustainable agricultural growth. This collaboration sets a precedent for addressing food security challenges through targeted investments and strategic partnerships, ensuring Nigeria’s resilient and prosperous agricultural sector.