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Hardship: AfDB Plans $2.7bn Budget, Agric Loans For Nigeria …Approves $134m Fund For Emergency Food Production

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The African Development Bank (AfDB) Board of Directors has approved $134million for Nigeria to implement an emergency food production plan, AfDB President Akinwumi Adesina has said.
According to him, talks are also ongoing for a $1.7billion economic and budget support loan as well as the launch of a $1bn agro-industrial processes in 28 states in Nigeria.
Adesina made the disclosures during an interview with journalists in Lagos on Monday.
The development came amid a biting food shortage that has led to hunger protests in Nigerian states and most recently attacks on grain warehouses in Abuja, Ogun, Niger and Kaduna states.
Last year’s fuel subsidy removal and exchange rate unification policy of the government have led to severe hardships with inflation now nearing 30 per cent amid a sharp depreciation of the naira.
Weak consumer purchasing power has affected businesses with the nation recording weak Gross Domestic Growth during the last quarter of the last year.
However, Adesina told journalists in Lagos that AfDB had pledged to support Nigeria through this period, disclosing that a number of agric initiatives should yield about five million metric tons of wheat, rice, cassava, maize this year for the country.
He exuded confidence that the development bank would work with Nigerian government to proffer solutions to the problems confronting Africa’s biggest economy.
He said, “I’m not used to complaining; I’m used to finding solutions. I did tell the President when I can last year that we would strongly support the Nigerian government in finding a solution to the challenges. As I speak to you today, we have approved $134m for Nigeria to implement an emergency food production plan. And that is not something that we are planning to do; it is what we are already doing.
“We have supported the cultivation of 118,000 hectares of wheat in Nigeria already this season. We will do 150, 000 hectares of maize production this march. By the rainy season, in May and June, we will support Nigeria to do 300,000 hectares of rice. We will also do 300,000 hectares of maize, 150,000 hectares of cassava and 50,000 hectares of soybean. So, that means that by the end of March, Nigeria would get out an additional one million metric tons of wheat; and by November, we will have an additional four million metric tons of rice, cassava, maize and soybeans.”
The AfDB chief, however, advised Nigeria to push for more food supply, pointing out that food inflation is a major component of the nation’s inflation figure.
Tackling inflation requires looking at some of the structural drivers, according to him.
“A big part of that (Nigeria’s) inflation is food price inflation. If you look at the Consumer Price Index, probably 65 per cent of it If not even 75 per cent of it now, is actually the price of food. And so, you don’t necessarily deal with food price inflation through your standard macroeconomic policy of tightening monetary supply. You deal with it by producing the food because that’s the thing that needs to be done. So I think it’s very important to be able to deal with that,” he said.
Adesina emphasised the need to enhance food production in the country.
On how the country could boost food production as quickly as possible, Adesina said, “But one thing that I would say is that the government needs to go back to the policy of electronic wallet system. Remember when I was minister, we did design a programme to get seeds and fertilizers to farmers directly via their mobile phones by electronic vouchers. We were able to reach 15 million farmers in four years; the whole place was booming with food. And I think that is what I will advise needs to be done and done very quickly. Because access to high performing yields, high performing seeds and fertilizers and farm inputs is very critical; otherwise you will not be able to do it.”
Nonetheless, the AfDB boss also pointed out the need for Nigeria to get low-interest concessionary financing to overcome its economic challenges.
He said issues around the exchange rate must be dealt with as an import dependent nation.
According to him, the AfDB is planning about $1.7bn economic and budget support loan for the country.
He said, “There needs to be a lot of support around Nigeria, given the tight fiscal space and the lack of forex, to make available a lot more concessional financing to the Nigerian economy. And that’s what we’re doing at African Development Bank. This year we expect to approve with our board because we always go to our board of directors for approval, but our plan is to be able to do $1.67bn of financing to Nigeria in different sectors, including considering a potential policy base operation of budget support to Nigeria. We are discussing with the Minister of Finance; that is part of a $1bn budget support operation that will go into two tranches. Again, I will say it has to be approved by the board, but these are all the things that we are hoping to be able to do.”
He spoke about other agric projects in the country.
Also, the AfDB is planning to launch this year a programme for a $1bn special agro-industrial processes are in 28 states, adding that “It this structural interventions that I will say would make agriculture more productive, efficient, and competitive.
“So those are the things that we are doing in Nigeria. In addition to that, we have a programme that we’ve already implemented, called Special Agro Industrial Processing zones. So these are new economic zones we are supporting Nigeria to develop. We provided $520m for that, ourselves, the African Development Bank, the Islamic Development Bank, and the International Fund for Agricultural, currently working now in eight states. We expect that those things will start hitting the ground and start construction by June of this year,” he added.

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Nigeria Exceeds OPEC Quota As Production Hits 11-month High

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Nigeria’s crude oil production has surged to an 11-month high in May, 2026, with the country exceeding its Organisation of the Petroleum Exporting Countries (OPEC) production quota.

The average crude oil production recorded during the month of May represents 102 per cent of Nigeria’s 1.5mbpd of production quota allocated by the OPEC.

The production report released by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), yesterday, disclosed that Nigeria’s oil production averages 1,530,354 barrels of crude oil and 170,446 barrels of condensates per day (bpd).

According to the report, this brings the total combined production to 1, 700, 800 barrels per day and consolidating Nigeria’s position as Africa’s largest oil producer.

The report said the production performance during the review period remained robust, with combined crude oil and condensate output ranging between a low of 1.51 million bpd and a peak of 1.86 million bpd.

It said the May 2026 production figures represented the highest recorded by Nigeria since July 2025, when output surged to 1,712,282.

“In strict crude oil terms (excluding condensates), the 1.53 million barrels recorded in May 2026 represents the highest Nigeria has witnessed since January 2025 when crude oil production hit 1.538mbpd.

“The latest crude oil production statistics thus represents a 15-month high on a month on month basis, production rose by 2.77 per cent in May 2026 as against 1.48mbpd in April,” it said.

The report said the broader production trend over the last five months had also remained positive.

It said combined crude oil and condensate output increased from 1.48 million bpd in February to 1.54 million bpd in March, 1.66 million bpd in April, and then 1.7 million bpd in May, underscoring sustained growth in Nigeria’s hydrocarbon production levels.

According to the report, among production streams, Bonny Terminal led the pack with a total blend of 293,870 bpd, closely followed by Forcados Terminal at 289,900 bpd, Qua Iboe ranked third with 173,360 bpd, while Escravos Oil Terminal contributed 135,470 bpd.

It said the Odudu (Amenam Blend) completed the top five production streams, accounting for 63,250 bpd during the month under review.

The NUPRC attributes the rise in production to a sustained positive momentum as operations remained stable throughout the reporting period with no significant pipeline or facility outages recorded.

Additionally, all previously scheduled turnaround maintenance activities had been successfully completed, contributing to improved operational reliability and production efficiency.

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Reps Pass State Police Bill

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The House of Representatives, yesterday passed a landmark constitutional amendment bill to establish state police nationwide, marking a significant milestone in Nigeria’s decades-long debate over decentralising policing and strengthening internal security.

The bill, titled “A Bill for an Act to Alter the Constitution of the Federal Republic of Nigeria, 1999 to Provide for the Establishment of State Police and for Related Matters (Sixth Alteration) Bill, 2026,” was approved during consideration at the Committee of the Whole, presided over by Speaker of the House, Rt. Hon. Tajudeen Abbas.

Voting commenced after the Deputy Speaker and Chairman of the House Committee on Constitution Review, Hon. Benjamin Kalu, presented the report on the proposal and canvassed support from lawmakers, stressing the need for a more decentralised policing framework to effectively address the country’s growing security challenges.

The exercise was conducted manually, with members raising their hands to indicate their positions. At the end of the voting, 289 lawmakers voted in support of the bill, one member abstained, while none voted against it, reflecting overwhelming bipartisan backing for the far-reaching reform.

The proposed amendment seeks to fundamentally restructure Nigeria’s policing architecture by creating both Federal and State Police formations.

One of the bill’s key provisions amends Section 214 of the 1999 Constitution to formally establish the Federal Police and the State Police. Under the proposal, the National Assembly would be empowered to prescribe the structure, organisation, administration and powers of the Federal Police, while also providing the legal framework and minimum standards for the establishment and operation of state police services.

The bill stipulates that no state police formation shall commence operations unless it is established by a law enacted by the relevant State House of Assembly and certified as complying with national minimum standards prescribed by an Act of the National Assembly.

It further provides that until a state police force becomes operational, the Federal Police shall continue to exercise policing powers and responsibilities within such states.

In a bid to preserve the autonomy of state police formations and prevent undue federal interference, the bill limits federal intervention in states’ internal security affairs. Under the proposal, the Federal Police may intervene only where there is a complete breakdown of law and order, upon the request of a governor or where a state police force becomes unable to function due to administrative, financial or other operational challenges.

The amendment also proposes significant changes to the police’s appointment and command structure.

Under the amended Section 215 of the Constitution, the Inspector-General of Police would be appointed by the President on the advice of the Nigeria Police Council from among serving members of the Federal Police, subject to confirmation by the National Assembly.

Similarly, a State Commissioner of Police would be appointed by a governor on the advice of the Nigeria Police Council from among serving officers of the State Police, subject to confirmation by the respective State House of Assembly.

The bill empowers governors to issue lawful directives to State Commissioners of Police on matters relating to public safety and the maintenance of law and order. However, where a commissioner considers such directives unlawful or inconsistent with accepted policing standards, the matter may be referred to the Nigeria Police Council, whose decision shall be final.

The proposal also amends Section 84 of the Constitution by replacing references to the “National Police Council and the Federal Police Service Commission” with the “Nigeria Police Council and the Police Service Commission.”

The passage of the bill by the House represents one of the most far-reaching security reforms contemplated since the return to democratic rule in 1999 and is expected to rekindle nationwide debate on issues relating to funding, accountability, operational control and safeguards against abuse.

With the House’s approval, the constitutional amendment bill will now proceed to the Senate for concurrence. Thereafter, it must secure the endorsement of at least two-thirds of the State Houses of Assembly and receive presidential assent before becoming part of the Constitution of the Federal Republic of Nigeria.

If eventually enacted, the legislation would usher in a new era of multi-layered policing in Nigeria and could redefine the country’s approach to tackling banditry, terrorism, kidnapping and other forms of violent crimes through a more localised security architecture.

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FG Declares Today Public Holiday To Mark Democracy Day

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The Federal Government has declared today, public holiday to commemorate Nigeria’s 27 years of unbroken democratic rule.

This is contained in a statement  in Abuja, by the Permanent Secretary, Ministry of Interior, Magdalene Ajani.

Ajani said that the  Minister of Interior, Dr Olubunmi Tunji-Ojo, made the declaration on behalf of the federal government.

Tunji-Ojo reaffirmed the federal government’s commitment to the preservation of democratic ideals, rule of law, transparency, accountability and inclusive governance.

He assured that the ministry in collaboration with relevant security agencies woulsd continue to take appropriate measures in maintaining and strengthening Nigeria’s internal security.

The minister noted that a secured and stable environment was essential to democracy and national development.

He urged Nigerians to see the holiday as an opportunity for civic reflection.

“As we mark this historic day, every Nigerian is encouraged to remain law-abiding, uphold the institutions that sustain our democracy, and remember that the strength of any democracy lies ultimately in the character of its citizens,” he said.

He also said that June 12 every year remained a significant day in Nigeria’s history in honour of the courage, resilience and sacrifices of Nigerians whose efforts made democratic governance possible.

“Their legacies continue to inform the values and responsibilities of the Nigerian state,”Tunji-Ojo added.

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