The Federal Government on Wednesday signed a financing agreement for the Value Chain Programme in Northern Nigeria (VCN), worth $158.15 million.
This is part of ongoing efforts to revolutionalize the nation’s agriculture sector, according to a statement by the Senior Special Assistant to the President on Media & Communications (Office of the Vice President), Stanley Nkwocha, on 7th May, 2025.
According to the statement, with the signing of the agreement, the implementation of the $158.15 million VCN project begins immediately to support agriculture value chain development and value addition for farmers in nine states of the northern part of the country.
“The eight-year initiative, validated on March 21, 2024, was conceived following Vice President Kashim Shettima’s request during UNFSS stocktaking in Rome on July 24, 2023, that IFAD should scale-up its portfolio in Nigeria and mobilise additional partners and donors to support the agri-food transformation and food security of the Renewed Hope Agenda,” the statement partly reads.
“It is a declaration of faith in the North, not as a region of deficits, but as a place of abundance. It also invites us to play our part in fulfilling the promise to reduce poverty, nourish our people, and restore dignity to farming families across Bauchi, Borno, Jigawa, Katsina, Kebbi, Sokoto, Kano, Yobe, and Zamfara.
“What has brought us together today is an investment of $158.15 million, co-financed by the International Fund for Agricultural Development (IFAD), the Agence Française de Développement (AFD), the Federal Government of Nigeria, and other stakeholders. This reflects President Bola Ahmed Tinubu’s commitment to prioritising what matters most—people, productivity, and prosperity,” VP Shettima declared.
“This synergy will shift us from exporting raw produce to exporting value-added goods—creating jobs, wealth, and industrial stability,” he added.