NDDC, IFAD launch N142.96 billion agribusiness scheme in three states
The Niger Delta Development Commission (NDDC) has launched a N142.96 billion agribusiness scheme in Akwa Ibom, Imo, and Rivers states.
Dr Samual Ogbuku, managing director of NDDC, inaugurated the Livelihood Improvement Family Enterprises – Niger Delta (LIFE-ND) initiative for the three states in Port Harcourt on Friday.
He stated that the scheme would be funded by NDDC and the International Fund for Agricultural Development (IFAD), with IFAD contributing 60 million USD (N95.31 billion) and NDDC providing 30 million USD (47.65 billion).
“This project aims to transform the lives of over 38,000 direct beneficiaries over six years in the three NDDC-funded states of Akwa Ibom, Imo, and Rivers.
“We are using this launch to reaffirm our commitment to economically empower our youths and women to build businesses that uplift their future, families, and communities,” he said.
Mr Ogbuku further explained that the scheme, in collaboration with the federal ministry of agriculture and food security, would address unemployment, reduce youth restiveness, and promote agribusiness in the region.
“This project is not just ploughing through the fields of agribusiness but will break new ground and cultivate opportunities for wealth and stability.
“It will create new opportunities, providing fertile soil for growth in areas that were once dry and barren for the region’s youth and women.
“Agribusiness seemed out of reach for many in the past, but today we are bridging that gap by opening doors to entrepreneurship, financial independence, and sustainable livelihoods,” he added.
Mr Ogbuku noted that the LIFE-ND project was already operational in Abia, Bayelsa, Cross River, Delta, Edo, and Ondo states, under IFAD funding.
The managing director called for stronger collaboration with government agencies, the private sector, non-government organisations, and communities for the project’s success.
IFAD country director, Dede Ekoue, expressed optimism about the initiative’s impact on youths and women in the Niger Delta.
She described LIFE-ND as one of the most successful IFAD projects that has empowered thousands in agribusiness in the Niger Delta.
“It attests to the NDDC’s commitment to boosting youth and women’s economic empowerment as well as deepening agribusiness in the region.
“LIFE-ND is one of the best-performing IFAD projects in Nigeria, West Africa, and Central Africa, and we are delighted with the expansion of this project to three more states,” she said.
Ms Ekoue commended the commission for providing counterpart funding to ensure the successful launch of the initiative.
Abubakar Kyari, minister of agriculture and food security, gave the assurance that the federal government would continue to support initiatives aimed at ensuring food security.
Represented by Dr Kush Kukwi, an official in the ministry, Mr Kyari mentioned that the LIFE-ND project would conclude by March 2025.
“However, the ministry is currently engaging IFAD to ensure a second phase commences after the project’s expiration.
“The federal government is committed to bringing smiles to the faces of Nigerians and has already declared a state of emergency on food security.
“We are optimistic that soon the policies and programmes in the agriculture sector will start yielding the desired results,” he expressed hope.
(NAN)
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