The statement said that the bank's executive directors approved the money to improve farmers' access to irrigation and drainage services.
It stated that the money was also to strengthen institutional arrangements for integrated water resources management."The board also intends to enhance delivery of agricultural services in selected large-scale public schemes in the
"This will be done through a project, "Transforming Irrigation Management in
"TRIMING will improve existing irrigation on 27, 000 hectares, irrigate an additional 23, 000 hectares, and benefit more than 140, 000 farmers, while mobilising private sector investment.
"It marks a transformational effort to improve large-scale public irrigation for expanding food production and encourage economic growth in rural areas.
"This is necessary to end poverty and boost prosperity, as well as enhance resilience of agriculture production systems," the statement said.
It quoted the bank's acting Vice-President for
"By taking a comprehensive approach, the TRIMING project will increase farm productivity, build climate resilience and reduce flooding risks.
"It will also improve the lives and well-being of millions of Nigerian citizens in
The statement said that agriculture was a key sector of the Nigerian economy accounting for 22 per cent of gross domestic product in 2012.
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