Vice President Kashim Shettima on Thursday directed the Presidential Food Systems Coordinating Unit (PFSCU) to fast-track the release of the Federal Government’s ₦250 billion credit facility for smallholder farmers at a single-digit interest rate.
Speaking at the sixth meeting of the PFSCU Steering Committee at the State House, Abuja, Shettima stressed the need for an implementation roadmap to ensure the funds reach the intended beneficiaries without delay.
“We need to sit down with all stakeholders and come up with a robust plan that ensures these funds reach the intended farmers and translate into real productivity gains,” he said.
Shettima commended President Bola Ahmed Tinubu for backing key agricultural reforms, including the liberalisation of fertilizer raw materials and the creation of a Presidential Seed Fund. He also praised the PFSCU for achievements so far, saying its performance showed the value of collaboration between government, private sector and development partners.
The Vice President further urged stakeholders to strengthen cooperation in revitalising Nigeria’s seed sector and expanding the nation’s grain reserves.
Ekiti State Governor, Biodun Oyebanji, called for a framework to guarantee that the ₦250 billion credit reaches genuine farmers and pledged his state’s financial support for PFSCU. Jigawa State Governor, Umar Namadi, commended the Bank of Agriculture but called for subsidies to aid local farmers, while Cross River State Governor, Bassey Otu, also supported the credit scheme and pushed for additional incentives.
PFSCU Coordinator, Marion Moon, warned that 30.8 million Nigerians remain food insecure despite recent gains, stressing the urgency of protecting food systems. She highlighted milestones since April, including insurance cover for 250,000 farmers, the launch of the Harvesting Hope Caravan in eight states, approval of a ₦50 billion Seed Fund, and progress on the World Bank–supported $500 million AGROW programme.
Committee members commended the Harvesting Hope Caravan, describing it as proof that agriculture requires joint efforts by federal, state, and local governments, alongside private sector actors and farmers, to sustain progress.
