Shettima orders swift disbursement of ₦250bn credit support for smallholder farmers
In a significant move to bolster Nigeria’s agricultural sector, Vice President Senator Kashim Shettima has directed the Presidential Food Systems Coordinating Unit (PFSCU) to expedite the disbursement of the Federal Government’s ₦250 billion credit support for smallholder farmers, available at a single-digit interest rate.
During the 6th meeting of the PFSCU Steering Committee held at the Presidential Villa in Abuja, the Vice President emphasized the urgency of formulating an implementation roadmap to ensure these funds efficiently reach the intended beneficiaries, stating, “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.”
Senator Shettima commended President Bola Ahmed Tinubu for backing the PFSCU’s initiatives, particularly in areas like fertiliser raw material liberalisation and the Presidential Seed Fund.
He said, “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.”
Moreover, the VP acknowledged the progress made by the PFSCU, noting the importance of collaboration among various stakeholders to revitalize the seed sector and enhance the strategic grain reserve as part of the Federal Government’s ongoing reform initiatives.
In attendance were representatives from various states and sectors, all devoted to ensuring the support for farmers translates into tangible benefits for Nigeria’s agriculture.
The call for structured financial support to guarantee these funds reach smallholder farmers resonated throughout the meeting, highlighting a collective commitment to improving food security in the country.
Source: Vanguard newspaper
