Nigeria, Japan to swiftly implement $110m food security emergency loan programme
Minister of Finance and Coordinating Minister of the Economy, Wale Edun
Abdullateef Fowewe
Nigeria and Japan are working swiftly to implement a $110 million Food Security Emergency Loan Support Programme aimed at enhancing food production systems and bolstering resilience against global supply chain challenges.
This facility, amounting to JPY 15 billion, is designed to offer essential support to Nigeria’s agricultural sector at a time of increased worries about food supply and costs. As the 2025 rainy season approaches, Nigerian officials are eager to expedite the programme’s rollout to provide prompt assistance to farmers and rural communities.
At a meeting in Abuja on Wednesday, the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, and the Minister of Agriculture and Food Security, Senator Abubakar Kyari, engaged with senior officials of the Japan International Cooperation Agency (JICA) to discuss implementation strategies.
A statement on Thursday by the Federal Ministry of Finance divulged that the focus of the meeting was to align both parties on the next steps for the effective rollout of the emergency loan programme.
The statement noted that both Nigerian ministers stressed the urgency of coordinated execution of the programme to deliver maximum impact during the current farming season.
“With the rainy season now underway, both Ministers noted the importance of swift, coordinated action to maximise impact for farmers and rural communities,” the statement stated.
During the session, JICA expressed its appreciation for the Nigerian government’s commitment to ensuring timely delivery of the programme. However, the Japanese agency sought further clarification on certain proposed adjustments to the implementation process.
Following deliberations, it was mutually agreed that the core production aspects of the programme should begin immediately within the structure of the existing implementation framework.
Other components, particularly those involving aggregation and financing mechanisms, will undergo further review to ensure they align with the provisions of the original loan agreement.
“This partnership is aimed at supporting the country’s food production systems and enhancing resilience amid global supply challenges,” it added.
The loan support initiative is part of broader efforts by the Nigerian government to mitigate food insecurity, which has worsened in recent years due to climate change, conflicts in key food-producing regions, and external shocks to global supply chains.
Beyond improving access to food, the programme is expected to stimulate rural economies, create job opportunities, and promote sustainable agricultural practices. Officials say the facility will also help enhance the capacity of local farmers through targeted interventions and better access to production inputs.
The meeting with JICA signals a renewed sense of urgency from the federal government in addressing the challenges confronting the agricultural sector, which remains a key pillar in the administration’s economic recovery and growth strategy.
