Vice-President Asks Food Systems Coordinating Unit To Ease Disbursement Of ₦250 billion Credit To Smallholder Farmers

Vice President Kashim Shettima has asked the Presidential Food Systems Coordinating Unit (PFSCU) to fast-track the disbursement of the Federal Government’s ₦250 billion credit support for smallholder farmers at a single-digit interest rate, to further boost food production in Nigeria 

Shettima who issued the directive during the sixth meeting of the PFSCU Steering Committee, held at the Presidential Villa, Abuja, told the committee to come up with an implementation roadmap for the disbursement of the funds

The Vice President said it was necessary to avoid further delays and ensure that the target beneficiaries of the initiative were reached.

“On the Bank of Agriculture ₦250 billion facility, we need to sit down with all stakeholders and come up with a robust roadmap that ensures these funds reach the intended farmers and translate into real productivity gains,” Shettima said

He commended President Bola Tinubu for the leadership backing given to the PFSCU to act boldly on priority reforms such as the fertiliser raw material liberalisation and the Presidential Seed Fund.

“I want to place on record our deep appreciation for Mr President’s leadership and guidance. His clear directives on fertiliser liberalisation and the seed fund have empowered the PFSCU to fast-track delivery in ways that directly support farmers and strengthen our food systems,” VP Shettima stated.

However, he called for improved collaboration among stakeholders to revitalise the seed sector and expand the strategic grain reserve through the ongoing reform initiative of the Federal Government.

Also speaking during the meeting, Governor Biodun Oyebanji of Ekiti State calls for a structure to ensure that the ₦250 billion reaches the target farmers.

Governors Umar Namadi of Jigawa state and Bassey Otu of Cross River state appealed for subsidies to be provided for local Nigerian farmers.

Earlier in her presentation, the PFSCU Coordinator, Ms. Marion Moon, underscored the urgency of protecting Nigeria’s fragile food security gains, with 30.8 million Nigerians still food insecure.

She said the unit had recorded significant progress in strengthening coordination and collaboration with MDAs across all three tiers of government.

The Steering Committee since its last meeting in April, has achieved major milestones, through respective MDAs

These include 250,000 farmers insured under the National Agribusiness Policy Mechanism (NAPM), and Phase I of the Harvesting Hope Caravan launched across eight states in collaboration with state and local governments.

Others are the approval of the ₦50 billion seed fund, and progress on the World Bank–supported $500 million AGROW programme.