The African Development Bank (AfDB) has provided $280 million to support youths who are interested in agriculture in Nigeria.

AfDB President, Dr. Akinwunmi Adesina, who disclosed this on Tuesday at the African Youth Agripreneurs (AYA) Forum in which over 200 youths in Africa, who are active in agribusiness/value chains are participating, in Ibadan said the fund was released to government last year December

He disclosed that four other African countries: ‎Democratic Republic of Congo, Sudan, Cameron and Zambia were also given the financial assistance to enable their youths embrace agriculture.

Adesina who spoke through Chiji Ojukwu, a Director in the bank said twelve other countries were on the line to get the assistance from the regional bank this year, adding that 33 countries in Africa were being targeted to benefit from the financial support.

‎He revealed that 37,000 youths between the ages of 18 and 35 who are graduates are being targeted in Nigeria, saying that $50,000 will be given to them to execute their agricultural programmes.

He added that 10,000 youths are being targeted in the four other African countries that had already gotten the financial assistance.

According to him, “this 10,000 ‎youths being targeted including the 37,000 youths in Nigeria are expected to create employment and this will reduce the unemployment rate being witnessed now in most African countries.” ‎

Adesina however stated that 1.5 million youths were being targeted to be in Agricultural business in the whole of Africa in the next few years.

The IITA, he stated, was already providing technical support for the youths so as to embrace agriculture, while the regional bank as well as some other financial institutions will provide and support the youths who were going into agriculture.

He pointed out that the business approach to agriculture which the AfDB was committed to will help improve productivity, competitiveness and entrepreneurship among Africa’s youth.

The forum which will be annual event is organized by the African Development Bank (AfDB) in collaboration with IITA, the Technical Centre for Agricultural and Rural Cooperation (CTA), the Africa.

‎In his address, Director General of IITA, Nteranya Sanginga urged governments at all levels to provide enabling environment and encourage youths to go into agriculture.

While lamenting that most funds budgeted for agriculture by governments in some cases ended up in private pockets, but said there was need to go back to land.

The IITA boss said over 12 million African youths graduate every year saying “these youths should encouraged and supported to embrace agriculture”.

Source: Dailypost