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 support facility designed to boost smallholder farmers.
The directive was issued on Thursday during the 6th meeting of the PFSCU Steering Committee at the Presidential Villa, Abuja.
According to a statement by the Vice President’s Senior Special Assistant on Media and Communications, Stanley Nkwocha, Shettima emphasised the importance of ensuring that the funds quickly reach farmers without bureaucratic delays.
“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,” he said.
The Vice President praised President Bola Ahmed Tinubu for providing strong political backing for agricultural reforms, including liberaling of fertiliser raw materials and creation of a Presidential Seed Fund.
He noted that these measures are crucial to strengthening Nigeria’s food systems and boosting local production.
Since its last meeting in April, the PFSCU has recorded several achievements, 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 a ₦50 billion Seed Fund, and progress on the World Bank-supported $500 million AGROW programme.
Shettima urged stakeholders to intensify efforts in revitalising Nigeria’s seed sector and expanding the country’s grain reserves to safeguard food security.
At the meeting, Ekiti State Governor Biodun Oyebanji stressed the importance of transparent structures to guarantee that the ₦250 billion loan reaches the farmers for whom it was designed. He pledged financial support from his state to the PFSCU.
Jigawa State Governor Umar Namadi commended the Bank of Agriculture for supporting rural farmers while calling for additional subsidies to raise productivity.
Cross River State Governor Bassey Otu welcomed the loan scheme and advocated for further incentives for local farmers.
PFSCU Coordinator, Ms. Marion Moon, highlighted that an estimated 30.8 million Nigerians remain food insecure, underscoring the urgency of the initiative.
She reaffirmed the unit’s commitment to consolidating food security gains through stronger collaboration among ministries, agencies, development partners, and the private sector.
Source: The Nation
Image Credit: Vanguard News
