The Federal Government has signed a $158.15 financing deal for the Value Chain Programme in Northern Nigeria (VCN) as part of ongoing efforts to revolutionise the agriculture sector.
It was sealed yesterday at the State House in Abuja by representatives of the Federal Government, the International Fund for Agricultural Development (IFAD), and the French Development Agency (AFD).
All the parties are co-funding the eight-year initiative, which was validated on March 21, last year following Vice President Kashim Shettima’s request during UNFSS stocktaking in Rome, Italy, on July 24, 2023.
Shettima had charged IFAD to scale-up its portfolio in Nigeria and mobilise more donor-partners to support the agri-food transformation and food security of the Renewed Hope Agenda (RHA).
The enterprise is expected to sustainably reduce poverty, enhance nutrition and better resilience of rural and most vulnerable populations in the nine Norths states of Borno, Bauchi, Kano, Katsina, Kebbi, Jigawa, Sokoko, Yobe and Zamfara.
Speaking during the signing of the financing agreement, Shettima described the initiative as a product of critical thinking about the economic reality of the north.
In a statement issued by his media aide Stanley Nkwocha, the vice president described the initiative as a fulfilment of the promise made by the President Bola Ahmed Tinubu-led administration to reduce poverty and restore dignity to farmers and ensure food security.
The statement reads: “It is a declaration of faith in the North – not as a region of deficits, but as a place of abundance. It also invites us to play our part in fulfilling the promise to reduce poverty, nourish our people, and restore dignity to farming families across Bauchi, Borno, Jigawa, Katsina, Kebbi, Sokoto, Kano, Yobe, and Zamfara.
“What has brought us together today is an investment of $158.15 million, co-financed by the International Fund for Agricultural Development (IFAD), the Agence Française de Développement (AFD), the Federal Government of Nigeria, and other stakeholders. This reflects President Bola Ahmed Tinubu’s commitment to prioritising what matters most – people, productivity, and prosperity.”
