The National Agricultural Development Fund (NADF) has partnered with the Cross River State Government to develop a subnational agricultural finance framework, aiming to reduce investment risk and expand credit access for farmers, thereby boosting agribusiness investment and promoting rural prosperity.
During a high-level meeting at the Government House in Calabar, attended by NADF Executive Secretary Mohammed A. Ibrahim and Governor Bassey Otu, focused on creating a non-ISPO de-risking mechanism to attract private investment in the state’s agricultural value chains.
NADF was accompanied by its technical partner, PROPCOM+, led by Country Director Adiya Ode. Governor Otu welcomed the collaboration and directed the State Ministry of Agriculture and Irrigation to establish a joint technical committee with NADF and PROPCOM+ to adapt the model to the realities of the state’s agricultural ecosystem.
The committee will design a scalable framework to support local agribusinesses, promote credit guarantees, and create a predictable environment for lenders and investors.
“This collaboration aligns perfectly with NADF’s mandate to deepen agricultural financing across Nigeria and foster private sector participation in food production, processing, and distribution,” said Ibrahim.
He commended Governor Otu for creating the Cross River State Agricultural Development Fund, describing it as a bold step towards commercialising agriculture and mobilising capital for smallholder farmers and agri-SMEs.
Ibrahim also praised the state’s Project Grow initiative, which empowers farmers and agribusinesses across all 18 local government areas, as well as the establishment of an Institute for Agricultural Research (IAR) substation, noting its potential to enhance innovation, data-driven policy, and yield improvement.
“The Cross River model demonstrates that subnational leadership is essential to transforming agriculture into a business,” Ibrahim said.
“By integrating finance, research, and market systems, the state is positioning itself as an agribusiness hub for southern Nigeria.”
He further emphasised that NADF’s collaboration with subnational governments supports President Bola Ahmed Tinubu’s Renewed Hope Agenda on food security and economic diversification.
“States are the true engines of Nigeria’s agricultural growth. Our role is to create enabling frameworks that unlock capital and reduce investment risk,” Ibrahim added.
Drawing parallels with the Brazilian agricultural transformation model, Ibrahim highlighted how strong state-level leadership, innovative financing, and technology-driven farming can drive inclusive growth and ensure long-term food security.
Source: BusinessDay
Image Credit: TGM News
