The Federal Government has announced a N250 billion financing window for smallholder farmers across the country to enhance food production and reduce the cost of food commodities. The new fund, according to the government, is in addition to the N1.5 trillion recapitalisation of the Bank of Agriculture (BOA).
Minister of Agriculture and Food Security, Abubakar Kyari, disclosed this during the opening of the 47th National Council on Agriculture and Food Security in Kaduna State. He stated that the drop in food prices witnessed in recent months is a result of the government’s continuous investments and interventions in agricultural production, processing, and post-harvest systems.
Kyari explained that President Bola Tinubu’s administration remains focused on achieving food sovereignty by ensuring that Nigeria produces what it consumes while maintaining affordability and access for all households.
He said: “As we continue along this path, we are already beginning to witness a decline in food prices across several commodities, a reflection of ongoing targeted market interventions. While we are not yet where we want to be, this positive trend confirms that we are moving in the right direction.”
Highlighting the government’s efforts, the minister mentioned that the National Agricultural Growth Scheme-Agro-Pocket (NAGS-AP), supported by the African Development Bank (AfDB) and state governments, has significantly improved farmers’ access to quality agro-inputs. He added that the initiative has led to increased wheat production in both irrigated and newly introduced rainfed farming zones in states such as Plateau, Taraba, and Cross River.
Kyari further revealed that operations at the national strategic grain reserves in Zamfara, Katsina, Nasarawa, Adamawa, Niger, Osun, Edo, and Kwara States have been scaled up to stabilise supply and cushion market shortages.
He said: “To strengthen national food security and stabilise prices, we are enhancing efficiency across national silo operations to ensure timely interventions.”
The minister also noted that the government, in partnership with Heifer Nigeria, has launched a national agricultural mechanisation programme to support youth- and women-led mechanisation service centres in all six geopolitical zones.
“Mechanisation will become a national service that modernises production, raises yields, and creates sustainable rural employment,” he added.
Minister of State for Agriculture and Food Security, Sabi Abdullahi, emphasised the need for climate-smart agriculture to sustain productivity. “We must adopt climate-smart practices that increase crop yields while building resilience and investment in drought-tolerant crop varieties, integrated pest management, and the Nigerian Farmers’ Soil Health Scheme, which tailors fertiliser use to specific soil conditions,” he said.
