The National Agricultural Development Fund (NADF) has inaugurated a blended on-lending partnership with Psaltry International, targeting the empowerment of 12,000 young women in cassava cultivation across Oyo State’s rural communities.
Executive Secretary of NADF, Mohammed Ibrahim, disclosed this to newsmen in Abuja, reaffirming the fund’s commitment to boosting agricultural growth, socio-economic development, and inclusive empowerment for women across Nigeria’s farming sector.
Represented by Abiodun Sosanya, General Manager, Corporate Services, Ibrahim said the first phase would directly engage 12,000 women, with the programme ultimately reaching 45,000 beneficiaries by the conclusion of the multi-year initiative.
Ibrahim stated NADF was contributing N798million, representing 51 per cent of total funding, while the balance of 49 per cent came through the IDH-Mastercard Foundation partnership under the Women in Sourcing and Enterprise Programme. The arrangement falls under the NADF Blended Finance On-Lending Programme (NADFBFP) for structured agricultural financing.
“The financing will support the cultivation of 2,400 hectares of cassava, engaging women farmers through Psaltry’s structured network of outgrowers and ingrowers, ensuring productivity, efficiency, and inclusion in Nigeria’s agricultural value chain.
“FCMB will serve as the participating financial institution, facilitating smooth fund disbursement and complementing IDH-Mastercard Foundation’s financing of farmers’ input requirements to ensure timely access to quality inputs for cassava production.”
Ibrahim explained the programme guaranteed markets through backward integration, reduced production costs with subsidised lending, and promoted value addition for locally grown cassava, aligning with national priorities and boosting economic opportunities for women.
“The initiative also supports the food security and sovereignty goals under President Bola Tinubu’s Renewed Hope Agenda, demonstrating how structured agricultural finance can strengthen domestic food supply and reduce Nigeria’s dependence on imports.”
FCMB Chief Executive Officer, Yemisi Edun, described the partnership as transformative, emphasising that funding 2,400 hectares of cassava under the collaboration would scale production and bridge Nigeria’s agricultural finance gap significantly.
Edun, represented by Executive Director Obaro Odeghe, highlighted that the programme illustrated the power of public-private partnerships in repositioning agriculture as a key economic driver and promoting structured financing for smallholder farmers.
Eniola Fabusoro, Country Director at IDH, speaking through Dayo Ogundijo, Director of Programs, highlighted IDH’s ongoing partnership with Psaltry International. This partnership is enabling 15,000 young women to integrate into Psaltry’s supply chain, while creating 45,000 dignified and fulfilling jobs for women across local communities.”
Founder and CEO of Psaltry International, Oluyemisi Iranloye, noted the inauguration coincided with Psaltry’s 20-year anniversary, marking a milestone in empowering women while enhancing local cassava production and agro-industrial capacity.
Iranloye said the programme would initially impact 15,000 women and expand to 45,000, producing food grains, starch, high-quality cassava flour, sorbitol, and glucose, supporting import substitution and strengthening domestic supply chains.
The deal illustrates NADF’s strategy of catalysing blended finance to de-risk agricultural value chains, provide structured financing for smallholder farmers, and propagate raw material supply for agro-industries. By combining public sector backing, private banking guarantees, and international foundation support, the initiative sets a model for scalable investment in Nigeria’s agricultural sector, enhancing both productivity and economic inclusion.
