Vice President Kashim Shettima has directed the Presidential Food Systems Coordinating Unit (PFSCU) to accelerate the disbursement 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 sixth meeting of the PFSCU Steering Committee at the Presidential Villa in Abuja. He tasked the unit to develop a clear implementation roadmap to ensure the funds reach targeted beneficiaries without delay.
“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,” Shettima said.
The Vice President commended President Bola Tinubu for granting the PFSCU the political backing to act decisively on reforms, praising breakthroughs in the liberalization of fertilizer raw materials and the creation of 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 liberalisation and the seed fund have empowered the PFSCU to fast-track delivery in ways that directly support farmers and strengthen our food systems,” Shettima added.
He also applauded the PFSCU for its recent achievements, stressing that collaboration between Ministries, Departments and Agencies (MDAs), the private sector, and development partners has demonstrated that “we can move swiftly from intent to delivery.”
Shettima further called for greater synergy to revitalise the seed sector and expand the nation’s strategic grain reserves.
Ekiti State Governor, Biodun Oyebanji, called for mechanisms to guarantee that the ₦250 billion credit facility reaches smallholder farmers and pledged monthly financial support from Ekiti State to the PFSCU.
Jigawa State Governor, Umar Namadi, commended the Bank of Agriculture’s efforts but emphasized the need for subsidies to support local farmers.
Cross River State Governor, Bassey Otu, supported the credit scheme but urged that incentives and subsidies remain central to boosting farmer morale.
PFSCU Coordinator, Ms. Marion Moon, highlighted the urgency of protecting Nigeria’s fragile food security gains, noting that 30.8 million Nigerians remain food insecure.
She outlined progress 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 the Harvesting Hope Caravan across eight states, approval of the ₦50 billion Seed Fund, and progress on the World Bank-supported $500 million AGROW programme.
Members of the committee lauded the Harvesting Hope Caravan initiative, which is engaging communities nationwide and reinforcing agriculture as a shared responsibility of federal, state, and local governments, alongside the private sector and farmers.
The meeting was attended by the Deputy Governors of Niger and Ebonyi States, the Ministers of Finance and Agriculture, the Ministers of State for Finance and Agriculture, the ALGON President, as well as representatives of the private sector and development partners.
