By Onyeanya Ebere
The Federal Government is in advanced discussions with the Japan International Cooperation Agency (JICA), to fast-track the implementation of a ¥15 billion (approximately $110 million), emergency loan aimed at strengthening food security across Nigeria.
This was disclosed in a statement issued on Wednesday by the Federal Ministry of Finance and Coordinating Ministry of the Economy following a high-level meeting involving the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun; the Minister of Agriculture and Food Security, Senator Abubakar Kyari; and senior JICA officials.
“The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, and the Minister of Agriculture and Food Security, Senator Abubakar Kyari, today met with senior representatives of the Japan International Cooperation Agency to advance the implementation of the Food Security Emergency Loan Support Programme,” the ministry stated.
According to the ministry, the $110 million facility is designed to bolster Nigeria’s food production systems and enhance resilience amid global supply chain disruptions and domestic inflationary pressures.
“With the rainy season already underway, both ministers stressed the urgency of executing key components of the programme to ensure timely support for farmers and rural communities,” the statement added.
In response, JICA reaffirmed its commitment to the programme but requested formal clarification on proposed adjustments to the implementation framework.
“It was jointly agreed that core production activities would proceed immediately under the existing framework, while additional components-such as aggregation and financing-would be reviewed in line with the original loan agreement,” the ministry noted.
This development comes just days after President Bola Tinubu wrote to the National Assembly seeking approval for a new external borrowing plan totaling $21.5 billion under the 2025-2026 borrowing framework.
In addition to the $21.5 billion request, the President also sought legislative approval for the ¥15 billion Japanese loan and a €51 million grant to support key development initiatives.
According to the President’s letter to the National Assembly, the facilities are intended to create jobs, enhance skills acquisition, promote entrepreneurship, reduce poverty, and improve national food security.
