FG-IFAD project contributes $68.7m to Nigeria’s economy

The Federal Government-International Fund for Agricultural Development (IFAD)-Livelihood Improvement Family Enterprises for Niger Delta (LIFE-ND) project has contributed $68.7 million, or about N90.7 billion, to the national economy.

Abiodun Sanni, national project coordinator, IFAD-LIFE-ND, disclosed this at the project’s sixth joint supervision mission in Abuja on Monday.

Mr Sanni said the project, implemented in nine Niger Delta states, had contributed 130,744 metric tonnes to food security and created 23,751 jobs for women and youth.

He said the beneficiaries comprised 12,526 females and 11,225 males, adding that their earnings had contributed to economic growth.

“Income of N38.23 billion, approximately $60.68 million, earned by youth and women beneficiaries has contributed to the national economy,” he said.

Mr Sanni said the LIFE-ND focused on seven priority commodities: cassava, rice, plantain, cocoa, fisheries, oil palm and poultry.

He identified the IFAD-funded states as Abia, Bayelsa, Cross River, Delta, Edo and Ondo, while the Niger Delta Development Commission (NDDC) funded Akwa Ibom, Imo and Rivers.

According to him, 38,250 youth and women agri-enterprises were created or strengthened under the project’s first phase.

He said an additional 13,050 youth and women were targeted for direct participation through the regular incubation process, while 51,775 beneficiaries would receive business development support.

Mr Sanni said 30,600, representing 80 per cent of the direct beneficiaries, had increased their food security by 50 per cent.

He said the project sought to transform the rural economy by increasing incomes, creating jobs and improving food security among rural youth and women through sustainable agribusiness development.

Earlier, Ehimhen Eigbe, director of agriculture and fisheries at the NDDC, said the supervision mission provided an opportunity to assess implementation, identify gaps and agree on measures to consolidate gains.
Mr Eigbe described LIFE-ND as a strategic investment in the people, enterprises, livelihoods and future of the Niger Delta.

“LIFE-ND was conceived to transform rural livelihoods by creating sustainable jobs, developing entrepreneurs, strengthening value chains, increasing household income and promoting inclusive and climate-resilient agricultural enterprises in the Niger Delta,” he said. NAN