By Felix Asuquo, Calabar
The Cross River State Government has unveiled a N30 billion Agricultural Development Fund aimed at attracting private sector investments and accelerating agribusiness growth across the state.
The State Coordinator of Project GROW, Dennis Ikpali, disclosed this during a press briefing with journalists in Calabar on Tuesday, saying the fund would serve as a guarantee facility for investors willing to establish agricultural ventures in the state.
According to him, the initiative is expected to leverage investments worth up to N150 billion over the next six years by reducing financial risks and improving access to capital for agribusiness operators.
Ikpali explained that Project GROW, a market systems development initiative of the state government, currently operates across key agricultural value chains including rice, cassava, aquaculture, maize, soybean and animal production, while also supporting secondary value chains such as cowpea, sorghum, groundnut and orange-fleshed sweet potato.
He said the programme had already facilitated N3 billion in agricultural financing, with an additional N1.5 billion available for the 2026 farming season.
“As part of our programme delivery, the state government established an Agricultural Development Fund designed to provide guarantees of up to N30 billion for private investors willing to operate in Cross River State. With that guarantee, we hope to facilitate investments of up to N150 billion over the next six years,” he said.
The project coordinator noted that the programme was addressing long-standing market challenges by connecting farmers, processors, aggregators, service providers and input suppliers within a sustainable agricultural ecosystem.
He revealed that Project GROW had secured an off-take agreement with Flour Mills of Nigeria for the supply of 2,000 metric tonnes of soybean and 20,000 metric tonnes of maize, a deal valued at about N18 billion.
According to him, discussions are also ongoing to expand the agreement to cassava production, creating additional market opportunities for farmers in the state.
Ikpali further disclosed that more than 5,300 farmers had been trained on good agricultural practices, financial literacy and farm management through a partnership with German development agency, APOS.
He added that the programme had facilitated the cultivation of 450 hectares of maize and soybean during its pilot phase and supplied 114 metric tonnes of soybean to processors, helping Cross River gain a foothold in Nigeria’s grain supply chain.
The coordinator said the initiative had also generated 391 direct jobs while supporting mechanisation through the deployment of mini tractors and other agricultural equipment to farmers across the state.
Speaking earlier, the Commissioner for Agriculture and Irrigation Development, Johnson Ebokpo, said the administration of Governor Bassey Otu was committed to transforming agriculture from a subsistence activity into a commercially viable sector capable of creating wealth, attracting investments and generating employment.
Ebokpo said the state’s agricultural transformation agenda was focused on strengthening value chains, expanding market opportunities, promoting climate-smart agriculture and encouraging private sector participation.
He noted that despite Cross River’s abundant natural resources, favourable climate and vast agricultural potential, the sector had for years been constrained by weak market systems, limited financing and inadequate value addition.
“Our mission is to build a modern, commercially viable and investment-driven agricultural economy that creates value across the entire chain, from production and processing to marketing, distribution and export,” he said.
The commissioner urged stakeholders, development partners, financial institutions and the media to support the state’s agricultural vision, stressing that sustainable agricultural transformation required collective efforts.
He expressed optimism that initiatives such as Project GROW would improve food security, increase farmers’ incomes, create jobs and position Cross River as one of Nigeria’s leading agricultural investment destinations.
