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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.