A Liberian delegation led by the country’s Deputy Minister of Agriculture, David Akoi, has visited the National Agricultural Development Fund (NADF) in Nigeria to study its agricultural financing system.
The visit is part of Liberia’s preparations to establish its own Agricultural Enterprise Development Bank aimed at boosting food production and agribusiness growth.
The team had earlier toured farming sites in Kano and Jigawa States, where they met with local officials and observed agricultural practices. Their visit to NADF focused on understanding its operational structure, agricultural funding model, and strategies for supporting farmers and agribusiness investors.
Deputy Minister Akoi explained the purpose of the trip, saying, “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.”
In his response, NADF Executive Secretary, Mohammed A. Ibrahim, outlined the Fund’s financing approach. He revealed that 70% of its funding is directed towards debt financing, 20% to equity investment, and the remaining 10% is shared between grants and emergency support.
He clarified that NADF operates as a wholesale lending institution rather than a retail bank, targeting the entire agricultural value chain.
Mr. Ibrahim stated that the Fund supports diverse sectors including livestock farming, aquaculture, and the blue economy. He also stressed the importance of maintaining both profitability and social impact, noting, “We always have to balance the commercial and the social to make a great impact.”
He added that NADF extends its support to agricultural research institutions, state governments, and capacity building within the sector.
The Liberian delegation is expected to use the insights gained from this visit to shape the framework and policies of its proposed Agricultural Enterprise Development Bank, which will serve as a major financing hub for agriculture in Liberia.