The Federal Government and the World Bank have jointly allocated $600 million for the next phase of the Rural Access and Agricultural Marketing Project (RAAMP).
The Minister of State for Agriculture and Food Security, Dr Sabi Aliyu Abdulahi, stated this during a press briefing in Abuja.
The minister said the funding modality includes $500 million from the World Bank and a $100 million counterpart fund from both federal and state governments, adding that RAAMP scale-up will promote agricultural marketing, food security, and overall economic growth and development that would boost the nation’s Gross Domestic Product, GDP, in a short time.
Dr Abdullahi said the RAAMP is executed in 19 states to boost and ensure the rural economy is supported by concrete and sustainable rural infrastructural facilities that benefit the rural populace, where over 70 per cent of Nigerians live.
“Most of Nigeria’s population resides in rural areas, and agriculture constitutes over 70 per cent of their economic activity. However, the lack of functional rural roads limits their ability to market their produce and sustain their livelihoods.
“This federal component will allow us to intervene in strategic areas of agricultural production that are not prioritised by states due to funding constraints.
“This initiative aligns with the agenda of President Bola Tinubu, focusing on food security, inclusivity, poverty eradication, and job creation,” the minister said.
In his remarks, The National Coordinator, RAAMP, Aminu Mohammed, pointed out that RAAMP is basically to improve rural road networks and enhance agricultural marketing at that level, adding that the scale-up phase would establish economic corridors that were not there, bring about agro-industrial clusters, and create sustainable agricultural growth paths as well.
(Daily Trust)
