Abuja, Nigeria — In a landmark move to boost food security and rural development, Nigeria has launched a $1 billion Agricultural Transformation Fund aimed at empowering smallholder farmers. The initiative, announced at the Intra-African Trade Fair in Algiers, is backed by the Bank of Agriculture and Afreximbank and is part of President Bola Ahmed Tinubu’s Renewed Hope Agenda.

The fund will provide low-interest loans, mechanization support, and access to structured markets for millions of farmers who contribute over 90% of Nigeria’s food supply. It also includes risk mitigation tools such as loan guarantees and currency swap mechanisms to protect farmers from financial volatility.

Minister of Agriculture and Food Security, Abubakar Kyari, stated that the fund prioritizes climate-smart practices, gender inclusion, and youth engagement. Pilot programs will begin in Kaduna, Ogun, and Cross River states, with plans to expand nationwide by mid-2026.

Experts believe this initiative could significantly reduce post-harvest losses, increase productivity, and create sustainable employment across Nigeria’s agricultural value chains.