The Federal Government has intensified discussions with the Japan International Cooperation Agency to fast-track the implementation of a ¥15bn (about $110m) emergency loan to improve food security across the country.

This was disclosed in a statement issued by the Federal Ministry of Finance and Coordinating Ministry of the Economy on Wednesday after a high-level meeting involving the Minister of Finance, Wale Edun; the Minister of Agriculture and Food Security, Senator Abubakar Kyari; and senior officials from JICA.

According to the statement, the $110m facility is designed to support Nigeria’s food production systems and build resilience amid persistent global supply challenges and domestic inflationary pressures. With the rainy season already underway, the ministers stressed the urgency of executing key components of the programme to ensure timely support for farmers and rural communities.                 

JICA, in response, reaffirmed its commitment to the programme but requested formal clarification on proposed implementation changes.

It was agreed that production activities would proceed immediately under the current framework, while other components such as aggregation and financing would be reviewed in line with the original loan terms.

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