A Liberian delegation led by the country’s Deputy Minister of Agriculture, Mr. David Akoi, has visited the National Agricultural Development Fund (NADF) in Abuja to understudy Nigeria’s agricultural financing framework.
This development, which occurred on Thursday, follows Liberia’s preparations to establish its own Agricultural Enterprise Development Bank.
The team had earlier toured farming sites in Kano and Jigawa States, meeting with local officials to gain insights into grassroots agricultural practices.
“We want to establish an institution that will be adequately funded and dedicated to financing agricultural initiatives. To achieve this, we need to learn from existing models like NADF to understand what has worked,” Mr. Akoi stated.
In response, NADF’s Executive Secretary, Mohammed A. Ibrahim, outlined the Fund’s financing approach, revealing that 70% of its resources go into debt financing, 20% into equity, while the remaining 10% is split between grants and emergency support.
He explained that NADF functions as a wholesale lending institution rather than a retail bank, with a mandate spanning the entire agricultural value chain; including livestock, aquaculture, and the blue economy.
Mr. Ibrahim emphasized the Fund’s balance between commercial viability and social impact, while highlighting its support for research institutions, state governments, and sector-wide institutional development.
“We always have to balance the commercial and the social to make a great impact,” he said.
Mr. Akoi noted that Liberia aims to adopt proven practices from Nigeria to build a robust, well-funded agricultural financing institution capable of driving food security and rural development.
