Vice President Kashim Shettima has directed the Presidential Food Systems Coordinating Unit (PFSCU) to accelerate the disbursement of the Nigerian Government’s ₦250 billion credit support for smallholder farmers at a single-digit interest rate.
He gave the directive on Thursday during the 6th meeting of the PFSCU Steering Committee, held at the Presidential Villa, Abuja.
He instructed the PFSCU to develop an implementation roadmap for the disbursement, emphasizing the need to avoid delays and reach the intended beneficiaries.
“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.
VP Shettima also commended President Bola Tinubu for providing the PFSCU with political backing to act on priority reforms, including 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,” he stated.
He further praised the PFSCU for its achievements so far, noting that “when Federal Ministries, Departments and Agencies, the private sector and development partners align, we can move swiftly from intent to delivery.”
VP Shettima also encouraged improved collaboration among stakeholders to revitalise the seed sector and expand the strategic grain reserve.
Supporting the initiative, Ekiti State Governor, Biodun Oyebanji, highlighted the need to establish a structure ensuring the N250 billion credit reaches smallholder farmers and pledged monthly financial support to PFSCU.
Jigawa State Governor, Malam Umar Namadi, commended the Bank of Agriculture’s efforts but urged subsidies for local farmers, while Cross River State Governor, Senator Bassey Otu, also recommended incentives for local farmers.
PFSCU Coordinator, Marion Moon, stressed the urgency of protecting Nigeria’s fragile food security gains, noting that 30.8 million Nigerians remain food insecure.
She highlighted significant progress since the last Steering Committee meeting, including:
• 250,000 farmers insured under the National Agribusiness Policy Mechanism (NAPM)
• Launch of Phase I of the Harvesting Hope Caravan across eight states
• Approval of the ₦50 billion Seed Fund
• Progress on the World Bank–supported $500 million AGROW program
Members praised the Harvesting Hope Caravan, which engages communities alongside subnational governments, reinforcing that agriculture requires alignment across federal, state, local governments, the private sector, and farmers.
The meeting was attended by the Deputy Governors of Niger and Ebonyi States, the Ministers of Finance and Agriculture, Ministers of State for Finance and Agriculture, ALGON President, and representatives of the private sector and development partners.