Home News FG, IFAD Hold COSOP Annual Review to Accelerate Inclusive Growth of Nigeria’s Rural Economy, Food Systems Transformation

FG, IFAD Hold COSOP Annual Review to Accelerate Inclusive Growth of Nigeria’s Rural Economy, Food Systems Transformation

by AgroNigeria

In a bid to accelerate inclusive and resilient growth of Nigeria’s rural economy and food systems transformation agenda, the International Fund for Agricultural Development (IFAD) with the Federal Ministry of Agriculture and Food Security (FMAFS) in partnership with the Federal Ministry of Finance (FMF) hosted a joint annual review of Nigeria Country Strategic Opportunities Programme (COSOP) 2024-2029, on Thursday in Abuja.

The event was convened to foster an understanding and ownership of the priorities of the COSOP; show how the COSOP implementation has been launched and the results being achieved as well as the perspectives; discuss strategies to facilitate a better implementation of the COSOP taking into account the major challenges and risks as well as opportunities; and for exchanges on best approaches to build synergies/partnership in support of the COSOP implementation.

Specifically, the Nigeria COSOP aimed at promoting inclusive and resilient growth of rural economy through market-driven, agri-food system transformation for food and nutrition security for 1.2 million beneficiaries including smallholder farmers and entrepreneurs, particularly women and youth, IDPs and PWDs.

The Director, Projects Coordinating Unit of the Federal Ministry of Agriculture and Food Security, Mr. Bukar Musa said the COSOP framework has been a cornerstone in driving sustainable agricultural transformation in Nigeria.

“Through this partnership and cooperation, we have been able to reach underserved rural communities, empower vulnerable populations, and promote resilience in the face of challenges such as climate change, economic fluctuations, and insecurity.

“In line with the COSOP strategic objectives, IFAD and FGN have made headways in productivity, nutrition and resilience through agribusiness empowerment of smallholder farmers in various value chain sectors. The COSOP objectives are achieved through the ongoing FGN/IFAD projects – VCDP, LIFE-ND and SAPZ and non-sovereign initiatives such as Zero Hunger, AgriHub and Babban Gona,” he added.

In her remarks, IFAD Country Director, Mrs Dede Ekoue, said the workshop was organised to highlight some key results of the strategy for 2024.

“But mainly, it serves as a platform to reflect on the way forward and this way forward will be determined on the basis of at least three questions: Have there been a major change in the context that we need to take into account in the implementation; have a risk of materialized that we have to mitigate better in the implementation, have there been new risks that were not identify or were not present during the design period and what is the level of commitment of the Government to this new strategy and what is the level of satisfaction at this early stage of beneficiary, and those beneficiaries are at government, state level, and of course we assess the satisfaction of the beneficiary like farmers based on the results of the projects that are working with them directly,” she emphasised.

However, speaking to AgroNigeria on the sidelines, a beneficiary, Grace Nwaozuzu from Edo State recounted how the Livelihood Improvement Family Enterprises in the Niger Delta (LIFE-ND) project has improved her standard of living.

Nwaozuzu, who is a person living with disabilities, sharing an emotional story said “Before now, I was just managing, not really doing anything serious, just from hand to mouth, LIFE-ND came as a game changer for me.

“My livelihood has improved; my children are in private universities. Imagine being physically challenged and being financially stable. Thank you, LIFE-ND,” she expressed.

Also, Ejim Lovelyn, from Enugu State, a beneficiary of theValue Chain and Development Programme (VCDP) said the intervention programme came at a time when rural farmers needed it most.

Lovelyn, who started off as a rice farmer focused on production, has transitioned into processing after realizing its importance in adding value.

She said “IFAD’s VCDP has been providing critical support that elevated Enugu farmers from subsistence farming to sustainable practices capable of feeding families and contributing to the nation’s economy.

“During the COVID-19 pandemic, IFAD’s intervention was a lifeline. They gave farmers hope by providing equipment, inputs, and market stores. They guided us step by step, ensuring we could farm, process, and market our products effectively.”
Lovelyn, however, pointed out some challenges bedevilling farmers and hindering productivity, “While IFAD covers 70% of the cost, farmers must raise the remaining 30%, which remains a hurdle for many.

“Farmers are often displaced from their lands, and crops are destroyed by invaders. Though the challenge of insecurity is beyond IFAD’s control, the state and federal governments must intervene to ensure safety and stability for farmers.”

Meanwhile, stakeholders at the workshop included, the Federal Ministry of Agriculture and Food Security, Federal Ministry of Finance, Agencies, Development Partners, Private Sector and beneficiaries.

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