The Vice President, Senator Kashim Shettima, on Thursday directed 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.
Senator Shettima gave the directive during the sixth meeting of the PFSCU Steering Committee held at the Presidential Villa, Abuja. He stressed that the PFSCU must present an implementation roadmap to avoid further delays and ensure the funds reach the farmers who are the main beneficiaries of the initiative.
“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,” the Vice President said.
He commended President Bola Ahmed Tinubu for granting the PFSCU political backing to deliver on critical reforms, including the liberalisation of fertiliser raw materials 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,” he stated.
The Vice President praised the PFSCU for its achievements so far, noting that the collaboration between Federal Ministries, Departments and Agencies, the private sector, and development partners has shown that Nigeria can move from intent to delivery when stakeholders work together.
He also called for stronger collaboration to revitalise the seed sector and expand the country’s strategic grain reserve through ongoing reforms.
Governor Biodun Oyebanji of Ekiti State called for a clear structure to ensure the ₦250 billion support facility reaches smallholder farmers and pledged his state’s readiness to provide financial assistance to PFSCU on a monthly basis. Jigawa State Governor, Malam Umar A. Namadi, commended the Bank of Agriculture’s efforts but urged that subsidies be provided for local farmers.
Cross River State Governor, Senator Bassey Otu, supported the credit issuance and added that incentives should be given to encourage farmers.
PFSCU Coordinator, Ms. Marion Moon, highlighted the need to protect Nigeria’s fragile food security gains, noting that 30.8 million Nigerians remain food insecure. She revealed that 250,000 farmers have been insured under the National Agribusiness Policy Mechanism (NAPM), the ₦50 billion Seed Fund has been approved, and the World Bank–supported $500 million AGROW program is making progress.
Members at the meeting commended the Harvesting Hope Caravan, launched in eight states, for engaging communities and strengthening collaboration with state and local governments.
The meeting was attended by deputy governors of Niger and Ebonyi States, the Ministers of Finance and Agriculture, Ministers of State for Finance and Agriculture, ALGON President, as well as private sector and development partners.