Shettima orders speedy disbursement of ₦250bn credit to farmers

By Kunle Sanni –

Vice President Kashim Shettima has directed the Presidential Food Systems Coordinating Unit (PFSCU) to fast-track the release of the Federal Government’s ₦250 billion credit facility for smallholder farmers at a single-digit interest rate.

Shettima issued the directive on Thursday during the 6th meeting of the PFSCU Steering Committee at the Presidential Villa, Abuja, saying the unit must produce an implementation roadmap to ensure the timely rollout of the funds.

“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, commending President Bola Tinubu for granting the PFSCU the political backing to act boldly on priority reforms, notably the fertilizer raw material liberalization 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 fertilizer liberalization 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.

Ekiti State Governor, Mr. Biodun Oyebanji, stressed the need to establish a structure to ensure that the ₦250 billion credit support earmarked for smallholder farmers reaches the intended beneficiaries.

Jigawa State Governor, Malam Umar A. Namadi, commended the efforts of the Bank of Agriculture but emphasized the need to provide subsidies for local Nigerian farmers.

Cross River State Governor, Senator Bassey Otu, agreed on the importance of credit issuance while advising that local farmers be encouraged with incentives through subsidies.

Earlier, PFSCU Coordinator Ms. Marion Moon underscored the urgency of protecting Nigeria’s fragile food security gains, noting that 30.8 million Nigerians are still food insecure.