UN Mobilizes N38 Billion for Nigeria’s Agriculture Sector .

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In order to enhance Nigeria’s agriculture industry from 2023 to 2027, the United Nations will work with the federal and state governments, as well as multilateral and unilateral contributors, to raise $83.16 million (or N38.3 billion, at the official exchange rate of N461/$).

According to the FAO Nigeria Country Programming Framework 2023–2027, received in Abuja on Friday from the Federal Ministry of Agriculture and Rural Development, the UN has already raised roughly $16.36 million (N7.54 billion) for the initiative.

The CPF, a medium-term framework that establishes priorities for the UN agency’s cooperation as agreed upon with the Nigerian government, directs FAO’s activity in Nigeria. According to the paper, the required total financing for the framework’s full five-year implementation  was about $99.5m (N45.87bn), adding that the resource that was currently available was $16.36m (N7.54bn), leaving a gap of about $83.16m (N38.3bn).

“The funding gap will be addressed through resource mobilisation and partnership with multilateral and unilateral donors including governments at federal and state levels,” the UN stated in its latest CPF report.
It further explained that the Nigeria CPF was divided into four priority areas, adding that the amount required to fund the first, second, third and fourth priority areas of the programme were $13.96m, $60.1m, $7.4m and $18.11m respectively. The report indicated that some aspects of the first priority area would be to strengthen capacities for value chain analysis, and upgrading of priority commodity value chains.

Punch.

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