Vice President Kashim Shettima has directed the Presidential Food Systems Coordinating Unit to fast-track the disbursement of the Federal Government’s N250 billion credit facility for smallholder farmers.
The facility is to be offered at a single-digit interest rate.
Speaking at the sixth meeting of the PFSCU Steering Committee held at the Presidential Villa, Abuja, Shettima urged the unit to develop a comprehensive implementation roadmap that would ensure the funds are promptly delivered to their intended recipients.
“On the Bank of Agriculture N250 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.
Shettima praised President Bola Ahmed Tinubu for giving the PFSCU the political backing to execute critical reforms, particularly in the areas of fertiliser raw material liberalisation and the Presidential Seed Fund.
“I want to place it 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.
Acknowledging the unit’s progress, the Vice President noted that the PFSCU’s work so far demonstrates that effective collaboration between federal ministries, departments and agencies (MDAs), the private sector, and development partners can rapidly transform policy into action.
Senator Shettima also advocated for enhanced coordination to revitalise the national seed sector and to strengthen the country’s strategic grain reserves through ongoing reform efforts.
Ekiti State Governor, Mr. Biodun Oyebanji, emphasised the importance of putting structures in place to ensure that the N250 billion fund is accessed by the farmers it was designed to support. He also called for financial backing for the PFSCU, pledging that Ekiti State is ready to contribute monthly financial assistance to the unit.
Governor of Jigawa State, Malam Umar A. Namadi, commended the efforts of the Bank of Agriculture, but stressed the necessity of providing subsidies to Nigerian farmers to enhance local agricultural productivity.
Similarly, Cross River State Governor, Senator Bassey Otu, supported the credit initiative but recommended that incentives in the form of subsidies be offered to local farmers to encourage uptake and increase output.
In her presentation, PFSCU Coordinator, Ms. Marion Moon, stressed the urgency of safeguarding Nigeria’s food security gains, citing that 30.8 million Nigerians remain food insecure. She highlighted the unit’s strides in deepening coordination with MDAs at all levels of government.
She outlined key achievements since the last Steering Committee meeting in April, including the insurance of 250,000 farmers under the National Agribusiness Policy Mechanism (NAPM), the launch of Phase I of the Harvesting Hope Caravan across eight states, the approval of the N50 billion Seed Fund, and progress on the World Bank–supported $500 million AGROW programme.
The Harvesting Hope Caravan, which is currently engaging communities in partnership with state and local governments, received widespread commendation from committee members. The initiative reflects the shared responsibility of all levels of government, the private sector, and farmers in building a resilient agricultural system.
