IFAD invests $459 million in Nigeria’s agricultural sector | The Guardian Nigeria News

Trains agents in financial management

The International Fund for Agricultural Development (IFAD) said it has directly invested $459 million in Nigeria’s agriculture sector through domestic and international co-financing.

IFAD Country Director, Mrs. Dede Ekoue revealed this yesterday in Abuja during a three-day workshop on financial management and procurement for Federal Government IFAD projects.

She revealed that the donor agency is currently funding two major projects in the country, namely the Value Chain Development Program (VCDP) in Central Nigeria and the Household Enterprise Livelihood Improvement Program ( LIFE-ND) in the Niger Delta region as well as the Climate Change Adaptation and Agribusiness Support Program (CASP) in the North.

Ekoue said the Special Agro-Industrial Processing Zone (SAPZ) to be set up in Kano and Ogun states will start soon.

She pointed out that the objective of the workshop was to scale up the impact of the project on smallholder farmers by improving procurement and financial management practices in the implementation of the two main projects of the FGN cooperation. /FIDA, namely VCDP and Life-ND.

She said the workshop will further enhance participants’ knowledge of financial management and improve the timely development of project procurement, adding that an action plan to improve financial management of projects will also be prepared in accordance with the recommendations of the supervision and support mission.

The Director of the Project Coordination Unit (PCU) of the Federal Ministry of Agriculture and Rural Development, Ing Ularamu Ubandoma, noted that IFAD-supported projects have contributed massively to improving people’s livelihoods rural area of ​​the country.

He added that to enhance the achievement of the project development objective while keeping in mind “value for money, it was essential to develop game-changing strategies for deep transformation of procurement and financial management of all FG/IFAD projects in the country”. .

Lana T. Arthur