The has unveiled plans to roll out a new loan scheme aimed at empowering young people in agriculture and boosting food production.

The initiative, driven by the (OYSADA), is set to begin disbursement next week.

According to the agency’s Director-General, , the programme is designed to encourage youth participation in agribusiness and create sustainable economic opportunities.

Boosting agriculture and job creation

Speaking in , Akande said the scheme aligns with the state’s broader strategy to strengthen agriculture as a key driver of economic growth.

He noted that the programme will help young people access funding and practical opportunities in farming and agribusiness ventures.

Building on previous support programmes

The state government has previously disbursed significant support funds, including ₦1 billion in agricultural loans under its economic recovery initiatives.

Through collaborations with financial institutions, thousands of youths have already benefited from training, funding, and agribusiness support schemes.

Training and selection of beneficiaries

Akande revealed that over 60 youths are currently undergoing training under the Youth Entrepreneurship in Agriculture Programme.

Participants are being exposed to modern farming techniques and business practices to ensure long-term success.

Govt reaffirms commitment to food security

Governor has continued to prioritise agribusiness development as part of efforts to improve food security, create jobs, and stimulate economic growth in the state.

The initiative is expected to further expand opportunities for young agropreneurs across rural and urban communities.

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The has launched a $500 million development initiative aimed at improving irrigation systems, strengthening dam safety, and boosting hydropower generation to support food production across the country.

The project, known as the Sustainable Power and Irrigation for Nigeria (SPIN) Project, is being funded by the and is designed to modernise Nigeria’s water resources management while expanding agricultural productivity.

The initiative was officially flagged off on Tuesday in by the Minister of Water Resources and Sanitation, , who described the project as a major step toward achieving national food security and strengthening energy infrastructure.

Project to modernise irrigation and water management

Utsev, who also chairs the SPIN Project Steering Committee, said the initiative represents a significant milestone in Nigeria’s efforts to transform its agricultural and water management systems.

According to him, the project will introduce modern irrigation technologies, strengthen water governance, and improve dam operations to enhance both farming productivity and electricity generation.

He explained that the SPIN project is expected to support millions of farmers by providing more reliable irrigation systems and reducing the country’s dependence on rain-fed agriculture.

“Today’s flag-off represents much more than the launch of a development project,” the minister said.

“It marks the beginning of a new chapter in Nigeria’s efforts to modernise irrigation, strengthen water governance, enhance agricultural productivity, and improve the livelihoods of millions of farmers.”

Aligning with Tinubu’s food security agenda

Utsev noted that the initiative aligns with the economic and agricultural priorities of , whose administration has declared food security a national priority under the Renewed Hope Agenda.

He said the government’s declaration of a national emergency on food security highlights the urgent need to transform Nigeria’s agricultural system through sustainable irrigation and improved water infrastructure.

The minister added that climate change, unpredictable rainfall patterns, and increasing food demand driven by rapid population growth have made irrigation expansion essential for Nigeria’s long-term agricultural stability.

“With increasing climate variability, erratic rainfall and rising food demand, Nigeria must move beyond dependence on rain-fed agriculture and invest in climate-resilient irrigation systems,” he said.

Four key components of the SPIN project

The SPIN project will focus on four major areas designed to strengthen Nigeria’s water and agricultural infrastructure.

The first component focuses on institutional strengthening and capacity building for water resources management agencies.

The second involves the modernisation of irrigation systems to improve agricultural productivity and water efficiency.

The third component targets improvements in dam operations and safety to enhance water storage and support hydropower generation.

The fourth component focuses on project management to ensure proper coordination, transparency, and accountability during implementation.

Power sector collaboration

Also speaking at the launch, the Minister of Power, , represented by the Permanent Secretary of the ministry, Mahmuda Mamman, emphasised the importance of strong collaboration among government agencies and stakeholders.

He noted that the project would play a key role in improving the integration between water resources management and electricity generation in Nigeria.

World Bank highlights importance of water security

The said the SPIN project builds on the achievements of the , which previously supported irrigation reforms across several states.

The World Bank Country Director for Nigeria, , said water, food, and energy security are essential pillars for sustainable economic growth.

According to him, the SPIN project will help rehabilitate about 14,000 hectares of irrigated farmland, while also encouraging private sector investment in irrigation development.

Need to rehabilitate Nigeria’s dams

Meanwhile, the World Bank’s Global Director for Water, , highlighted the importance of improving Nigeria’s water storage infrastructure.

He noted that Nigeria currently has more than 400 dams, many of which require rehabilitation and upgrades to effectively manage floods, droughts, and irrigation demands.

Improving these dams, he said, would help strengthen the country’s resilience to climate change while supporting agricultural and power generation needs.

Experts believe that if effectively implemented, the SPIN project could significantly boost Nigeria’s food production, enhance water management, and improve electricity generation capacity.

The initiative is also expected to create new opportunities for farmers, strengthen rural livelihoods, and reduce the country’s vulnerability to climate-related agricultural disruptions.

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