The Board of the World Bank last week in Abuja, Nigeria’s capital, approved an International Development Association (IDA) credit of $150 million (N21 billion) for Commercial Agriculture Development Project (CADP) in Nigeria. The IDA credit, which is payable in 40 years with a moratorium of 10 years, has a service charge of 0.75 per cent and it is interest-free.
The CADP is designed to strengthen agricultural production systems as well as facilitate access to markets for targeted value chains among small and medium scale commercial farmers in the five participating states in the country. The beneficiary states are Cross River, Enugu, Lagos, Kaduna , and Kano.
The CADP, which will be implemented over a five-year period, starting from April 16, 2009 and closing December 31, 2014, has two components: Agricultural Production and Commercialisation and Rural Infrastructure.
Subscribe to:
Post Comments (Atom)
This is interesting. Would be welcome news if there was some assurance that there are stringent controls in place to ensure that the funds are actually channelled towards the intended cause.
ReplyDeleteI am curious about the road map to implement the commercialization and production goals. Is there any in place and how transparent?
Another thing that jumps out to me from reading the article is - the participating states. When I think small scale commercial farmers - I wouldn't choose Lagos, Kano, or Enugu.
Keep us posted on the progress the project.
lousinI havee no intent of being annonymous at this point. Why you may ask? one simple reason. I have been an agribusiness entrepreneur for upwards 4yrs now and one of my greatest challenge has been. the poor funding options available to the sector. I do hope to see this fund appropriately disbursed
ReplyDeletecynsmola@yahoo.com
How on earth did Lagos manage to get on the list when the tiny city bearly has enough land to contain it's high population. And how did they arrive at the 5 participating states - did the others states not show interest in it? In all it's good news for Nigeria but hope the people will make good use of it.
ReplyDeletetHIS IS THE BEGINNING OF GOOD THINGS TO COME.aS PER THE COMMENT ON "HOW LAGOS MANAGED TO GET ON THE LIST...", MAY I MENTION TO THE COMMENTATOR THAT AGRIC. IS NOT ONLY ABOUT LAND AND ANIMAL HUSBANDRY, WHAT ABOUT AQUA CULTURE, ALL THE WATER RESOURCES OF LAGOS SHOULD NOT GO TO WASTE.tHIS IS WHAT SOME OF US HAS BEEN WORKI NG ON FOR A BETTER PART OF 6 YEARS.
ReplyDeleteREGARDS, rOBERTSON aFILAKA
One thing that has not been clarified is if this opportunity is a governmental opportunity or public opportunity. How assessble will it be to the public if the public have common knowledge of this and how they can avail themselves. Public, I mean the farmers in the communities.
ReplyDeleteLagos being mentioned is not really a problem as there are farmers in Lagos...I am an Agrochemist and have some farms in Lagos.
My cousin recommended this blog and she was totally right keep up the fantastic work!
ReplyDeleteAgriculture Projects