Nigeria AgriConnect compact targets $5 billion and 2.5 million jobs
The IFAD, World Bank and government compact aims to improve food security for nearly three million people and create over 2.5 million jobs in five years.
The International Fund for Agricultural Development (IFAD) said in its September 28 announcement that it had joined the Government of Nigeria and the World Bank for the launch of the AgriConnect compact in Ibadan. The initiative aims to mobilize US$5 billion over five years to expand agricultural transformation.
The compact targets improved food and nutrition security for nearly three million people and more than 2.5 million jobs. Agriculture contributes 26% of Nigeria’s GDP and employs about 30% of its workforce; more than 31 million people face acute food insecurity.
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The free-zone authority highlights an existing Food Park hosting 580 companies.
Source: Emirates News Agency (WAM)
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