Vice President Kashim Shettima has instructed the Presidential Food Systems Coordinating Unit (PFSCU) to expedite the release of the Federal Government’s ₦250 billion credit facility for smallholder farmers, offered at a single-digit interest rate.
He issued this directive during the sixth meeting of the PFSCU Steering Committee held at the Presidential Villa in Abuja.
The Vice President emphasized the need for the PFSCU to develop a clear implementation plan for the fund’s disbursement to prevent delays and ensure the support reaches the intended beneficiaries.
“Regarding the ₦250 billion facility from the Bank of Agriculture, we must collaborate with all stakeholders to create a robust roadmap that guarantees these funds reach the targeted farmers and result in tangible productivity improvements,” Shettima stated.
He also praised President Bola Tinubu for his strong leadership and support, which has empowered the PFSCU to swiftly advance key reforms such as the liberalization of fertiliser raw materials and the Presidential Seed Fund.
“I want to formally acknowledge and appreciate Mr. President’s leadership and guidance. His firm directives on fertiliser liberalisation and the seed fund have enabled the PFSCU to accelerate efforts that directly benefit farmers and strengthen our food systems,” Shettima added.
However, he called for enhanced cooperation among stakeholders to revive the seed sector and expand the strategic grain reserve as part of the Federal Government’s ongoing reform initiatives.
At the meeting, Ekiti State Governor Biodun Oyebanji stressed the need for a clear framework to ensure the ₦250 billion fund effectively reaches the target farmers.
Governors Umar Namadi of Jigawa State and Bassey Otu of Cross River State appealed for subsidies to support Nigerian local farmers.
Earlier, PFSCU Coordinator Ms. Marion Moon highlighted the urgency of safeguarding Nigeria’s fragile food security achievements, noting that 30.8 million Nigerians remain food insecure.
She reported that the unit has made notable progress in enhancing coordination and collaboration with Ministries, Departments, and Agencies (MDAs) across all government levels.
Since the last Steering Committee meeting in April, the PFSCU, through its partner MDAs, has reached important milestones, including the insurance of 250,000 farmers under the National Agribusiness Policy Mechanism (NAPM) and the launch of Phase I of the Harvesting Hope Caravan in eight states, in partnership with state and local governments.
Other achievements include the approval of the ₦50 billion seed fund and progress on the $500 million AGROW programme supported by the World Bank.
