The consortium comprises the Islamic Development Bank, the Bank for Arab Economic Development in Africa (BAEDA) and the African Development Bank (ADB).
Dr Salisu Ingawa, Director, Projects Coordinating Unit (PCU), federal ministry of agriculture and water resources, disclosed this yesterday, to the News Agency of Nigeria (NAN) in Abuja.
Ingawa said the money would be used for the take-off of the second phase of the National Special Programme for Food Security (NSPFS).
``It is estimated to cost 364 million dollars (about N462 billion), upon its completion," he added.
He said the success recorded in the first phase, made former President Olusegun Obasanjo to approve the second phase spanning another five years.
``Because of the laudable achievements in the first phase, more than six donor agencies have signified their intention to be part of the project.
``In the end, more than half of the funds will come from donor agencies,'' he said.
The director added that the project sites would triple from 109 to 327 under the second phase, with each state having nine sites, while the FCT would have three.
He explained that the project would support irrigation farming through the construction of micro earth dams and sinking of tube wells, as well as irrigation system.
Ingawa noted that the PCU, in conjunction with the Institute for Agricultural Research, Zaria, had begun a capacity building programme on water control structures.
According to him, the project is being funded by BAEDA.
The director said that the South-South Cooperation Programme (SSCP), jointly undertaken by the federal government and the FAO would run alongside the NSPFS scheme.
The SSCP was developed by the FAO for low-income food deficit countries.
Ingawa explained that 192 demonstration sites and 25 micro projects have been established under the SSC programme.
He added that 400 Chinese technicians and experts have been deployed to 12 states for the programme, based on the needs of the states.