The National Agricultural Development Fund (NADF) has inaugurated a blended on-lending partnership with Psaltry International to empower 12,000 young women in cassava cultivation across rural communities in Oyo State.
The initiative, disclosed by NADF Executive Secretary Mohammed Ibrahim, is part of a multi-year programme designed to eventually reach 45,000 beneficiaries and boost agricultural growth, socio-economic development, and inclusive empowerment for women across Nigeria’s farming sector.
NADF is contributing N798 million, representing 51 per cent of the total funding, while the Mastercard Foundation provides 49 per cent through the NADF Blended Finance On-Lending Programme (NADFBFP).
FCMB will facilitate fund disbursement, complementing financing for farmers’ input requirements to ensure timely access to quality resources for cassava production.
“The financing will support the cultivation of 2,400 hectares of cassava, engaging women farmers through Psaltry’s structured network of outgrowers and ingrowers,” said Ibrahim.
“It guarantees markets through backward integration, reduces production costs with subsidised lending, and promotes value addition for locally grown cassava.”
The programme aligns with national priorities under President Bola Tinubu’s Renewed Hope Agenda, supporting food security, domestic supply chains, and import substitution.
It also targets youth, internally displaced persons, and persons with disabilities, reflecting a commitment to inclusive growth and sustainable agriculture.
FCMB Chief Executive Officer, Yemisi Edun, highlighted the transformative nature of the partnership, emphasising that funding 2,400 hectares of cassava will scale production and bridge Nigeria’s agricultural finance gap.
Founder and CEO of Psaltry International, Oluyemisi Iranloye, noted that the inauguration coincides with Psaltry’s 20th anniversary, marking a milestone in women’s empowerment and agro-industrial capacity building.
The programme will produce food grains, starch, high-quality cassava flour, sorbitol, and glucose, strengthening domestic supply chains and supporting import substitution.
Source: NAN
Image Credit: The Nation News
