NDDC, IFAD launch ₦142.96 billion agribusiness scheme in 3 states
The Niger Delta Development Commission (NDDC) has officially launched the Livelihood Improvement Family Enterprises – Niger Delta (LIFE-ND) initiative, a groundbreaking agribusiness scheme valued at ₦142.96 billion.
This ambitious project, which will benefit Akwa Ibom, Imo, and Rivers states, is being funded through a partnership between NDDC and the International Fund for Agricultural Development (IFAD).
Dr. Samuel Ogbuku, NDDC’s Managing Director, inaugurated the scheme and outlined its objectives.
The LIFE-ND initiative is set to provide support to over 38,000 beneficiaries over the next six years. IFAD is contributing USD 60 million (approximately ₦95.31 billion), while NDDC is providing USD 30 million (around ₦47.65 billion).
“This project aims to empower our youths and women by enabling them to build sustainable businesses that will benefit their families and communities,” said Ogbuku.
He emphasized that the initiative would address unemployment, reduce youth restiveness, and stimulate agribusiness in the region.
The scheme, in collaboration with the Federal Ministry of Agriculture and Food Security, will focus on fostering entrepreneurship and financial independence among the region’s youth and women.
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Ogbuku highlighted that LIFE-ND is already operational in several other states, with ongoing projects in Abia, Bayelsa, Cross River, Delta, Edo, and Ondo.
IFAD Country Director Mrs. Dede Ekoue expressed optimism about the project’s impact. She praised LIFE-ND as one of the most successful IFAD projects, noting its significant contributions to economic empowerment in the Niger Delta.
Senator Abubakar Kyari, Minister of Agriculture and Food Security, assured continued government support for such initiatives.
Represented by Dr. Kush Kukwi, Kyari announced plans for a potential second phase of LIFE-ND, following its expected conclusion in March 2025.
The Federal Government is committed to improving food security and supporting agricultural advancements, with Kyari highlighting ongoing efforts to enhance policies and programmes in the sector.
