The Federal Government says it is seeking a $500m loan from the World Bank for rural road infrastructure and agricultural marketing.

Contained in the final draft of the Resettlement Policy Framework for the Nigeria Rural Access and Agricultural Marketing Project Scale-UP implemented by the Federal Ministry of Agriculture and Rural Development, the fund is expected to address the need for better connectivity in rural Nigeria, where 92 million people currently lack access to good roads.

The RAAMP-SU project aims to improve rural access and climate resilience, thereby boosting agricultural potential and marketing prospects for agrarian communities, which will in turn contribute to better livelihoods for the rural populace.

The project’s objectives include improving rural access and climate resilience of communities in served rural areas, strengthening institutional capacity for rural road network management, and fortifying the financial and institutional foundations for sustainable management of both rural and state road networks.

The RAAMP-SU initiative is an extension of the earlier Rural Access and Agricultural Marketing Project, supported by the World Bank and the French Development Agency.

The total cost of the RAAMP-SU project is estimated at $600m, with the World Bank expected to provide 83.33 per cent of the required funding.