AfDB, FG, Earmark $300million For Agricultural Projects

The African Development Bank, AfDB, has announced that it would spend about $300 million on the ‘Enable Youth Empowerment Agribusiness Programme.

The project is to be implemented in partnership with the Federal Ministry of Agriculture and Rural Development within 18 months.

The bank’s Director, Agricultural and Agro- Allied Industries, Chudi Ojukwu, said the three-year project would enable training and funding of young graduates, who are interested in farming across the country.

The programme is expected to encourage youths into agriculture, thereby increasing food sufficiency, reducing unemployment with each recipient to benefit to the tune $75, 000.

In a statement on Thursday, January 7, the Agriculture Minister, Chief Audu Ogbeh, said the project would commence from the three Federal Universities of Agriculture in the country. According to the release by the Director of Information, Tony Ohaeri, Dgbe said “a total of $300 million would be accessed to cover the three year project which would bring young graduates together and train them for 18 months as entrepreneur farmers.

“The initiative would create 250,000 jobs; the beneficiaries would be trained at various incubation centres on all aspects of value chains, with each beneficiary supported with about $75,000. The project would cover the 36 states including the FCT, while the Agricultural Aransformation Agenda (ATA) would be expanded through the processing zones.”