RateCaptain
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
No Result
View All Result
Subscribe
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
No Result
View All Result
RateCaptain
No Result
View All Result
Home Economy

FG Boosts NALDA Funding to N25 Billion in 2026 Budget, Tripling 2025 Allocation

Stephen Akudike by Stephen Akudike
January 19, 2026
in Economy
Reading Time: 2 mins read
A A
0
FG Records N13.33bn Revenue Shortfall from Gas Flaring Penalties
Share on FacebookShare on TwitterShare on WhatsappShare on Telegram

The National Agricultural Land Development Authority (NALDA) has received a major funding increase in the proposed 2026 federal budget, with total allocation rising to N25 billion — more than triple the N7.43 billion it received in 2025.

The significant jump reflects the government’s renewed emphasis on agricultural mechanisation, land development, and food security initiatives amid persistent challenges in domestic production and rising food prices.

AlsoRead

Nigerians Borrowed Record $3.18 Billion in Airtime Credit Last Year – Report

Nigeria’s External Debt Projected to Reach $72.6 Billion by 2027 – IMF

NGX Gains 0.53% as Airtel Africa and First Holdco Lead Market Rally

In the 2025 budget, NALDA’s entire funding was directed toward capital expenditure, focusing on land acquisition, clearing, and the purchase of farming equipment to expand cultivable areas nationwide. There was no separate recurrent allocation that year.

The 2026 Appropriation Bill introduces a more comprehensive structure. Recurrent expenditure is set at N1.04 billion, broken down as follows:

– Personnel costs: N274.75 million (salaries and wages N198.97 million; allowances and social contributions N75.78 million, including NHIS, pension, and employees’ compensation)
– Overheads: N763.26 million, covering travel and transport (N241.81 million), utilities (N20.2 million), materials and supplies (N47.25 million), maintenance services (N56.5 million), training (N70 million, split between local and international), security operations (N90 million), consulting/professional services (N45 million), fuel and lubricants (N60 million), insurance (N45 million), and miscellaneous items (N87.5 million) such as refreshments, publicity, medicals, and monitoring.

Capital expenditure dominates the budget at N23.97 billion, underscoring NALDA’s primary mandate of physical development and asset creation.

Key capital items include:

– Fixed assets: N2.3 billion (office buildings N245 million, motorcycles N60.48 million, trucks N52.5 million, office furniture N192.5 million, computers N245 million, and agricultural equipment N1.51 billion)
– Construction and provision of fixed assets: N2.62 billion (housing, public schools, agricultural facilities, and roads)
– Environmental preservation (erosion and flood control): N14 million
– Other capital projects (primarily non-tangible assets): N19.03 billion, with the largest single component being N18.87 billion for research and development, plus N161 million for monitoring and evaluation

The dramatic increase from N7.43 billion in 2025 to N25 billion in 2026 signals a strategic shift toward deeper investment in research, mechanisation, infrastructure, and long-term agricultural productivity. Officials say the expanded funding will support nationwide efforts to open up more arable land, equip farmers with modern tools, and build resilience against climate challenges.

The allocation comes at a time when Nigeria continues to grapple with food inflation and import dependence, despite ongoing reforms in the sector. NALDA’s enhanced role is expected to contribute to the government’s broader goal of achieving food self-sufficiency and reducing reliance on foreign agricultural imports.

As the National Assembly reviews the 2026 Appropriation Bill, stakeholders in the agricultural value chain will be watching closely to ensure the funds translate into tangible improvements in farm output, rural livelihoods, and national food security. The tripling of NALDA’s budget is seen as a clear statement of intent — but execution will ultimately determine its real impact on the ground.

Tags: FG
Previous Post

FG Allocates Just 0.35% of 2026 Budget to Poverty Alleviation Programmes

Next Post

CBN Confirms 20 Banks Meet New Recapitalisation Requirements as March Deadline Looms

Related News

Nigeria’s MTN and Airtel Record N403.2 Billion Data Revenue In Q3, 2023

Nigerians Borrowed Record $3.18 Billion in Airtime Credit Last Year – Report

by Victoria Attah
June 15, 2026
0

Mobile subscribers across Nigeria and other parts of Africa took a total of $3.18 billion worth of airtime on credit...

IMF Applauds Tinubu Policy Reforms While Lowering Growth Projections

Nigeria’s External Debt Projected to Reach $72.6 Billion by 2027 – IMF

by Jide Omodele
June 10, 2026
0

The International Monetary Fund (IMF) has projected that Nigeria’s public external debt will rise sharply to $72.6 billion by 2027,...

Liquidity Crunch: Banking Sector’s Borrowing from CBN Surges to N12 Trillion.

NGX Gains 0.53% as Airtel Africa and First Holdco Lead Market Rally

by Jide Omodele
June 10, 2026
0

The Nigerian equities market extended its positive performance on Tuesday, closing higher by 0.53% amid renewed buying interest in major...

Oil Prices Reach $90 Following Supply Reduction by Saudi Arabia and Russia.

Nigeria’s Crude Oil Exports Climb to N11.2 Trillion in First Quarter of 2026

by Akpan Edidong
June 9, 2026
0

Nigeria recorded crude oil exports worth N11.20 trillion in the first quarter of 2026, reinforcing oil’s position as the country’s...

Next Post
Leading Banks Struggle with Capital Deficits: Zenith Bank and Others Strive to Meet CBN Standards

CBN Confirms 20 Banks Meet New Recapitalisation Requirements as March Deadline Looms

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Liquidity Crunch: Banking Sector’s Borrowing from CBN Surges to N12 Trillion.

 Banks Generate N224.69 Billion from E-Banking and ATM Charges in Q1 2026

June 15, 2026

Elon Musk’s Wealth Crosses $1 Trillion Mark, Overtaking Nigeria’s Entire Economy

June 15, 2026

Popular Story

  • Liquidity Crunch: Banking Sector’s Borrowing from CBN Surges to N12 Trillion.

     Banks Generate N224.69 Billion from E-Banking and ATM Charges in Q1 2026

    0 shares
    Share 0 Tweet 0
  • Lagos Rolls Out Cybersecurity Guidelines to Tackle N250 Billion Annual Cybercrime Losses

    0 shares
    Share 0 Tweet 0
  • Nigerians Borrowed Record $3.18 Billion in Airtime Credit Last Year – Report

    0 shares
    Share 0 Tweet 0
  • Shocking: “Undress” An AI Tool That Unveils Digital Representations of Individuals Without Clothing

    0 shares
    Share 0 Tweet 0
  • Elon Musk’s Wealth Crosses $1 Trillion Mark, Overtaking Nigeria’s Entire Economy

    0 shares
    Share 0 Tweet 0

RateCaptain

We bring you the most accurate in new and market data. Check our landing page for details.

  • Home
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Disclaimer
  • Cookie Policy
  • Contact Us

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

No Result
View All Result
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

RateCaptain
Manage Cookie Consent
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
  • Manage options
  • Manage services
  • Manage {vendor_count} vendors
  • Read more about these purposes
View preferences
  • {title}
  • {title}
  • {title}
?>