The IMF, however, said the weak effect of agricultural credit on production growth could be associated with difficulties in targeting the right recipients
It explained that data from the central bank indicate that the repayment rate for the Commercial Agricultural Credit Scheme is at almost 66 per cent but, since the loans started in 2009, this is not a particularly high outcome.
The IMF said domestic production of staples and the global increase in food prices are among factors adversely affecting food security conditions. It added that the cross-country analysis identifies four levers for raising food security levels: raising per capita consumption, raising production yields, limiting food price inflation, and reducing reliance on food imports.
It noted that Nigeria has achieved a substantial increase in agricultural production associated with its policies but some have been less successful.
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