The Bank of Agriculture (BOA), in partnership with agribusiness firm WACOT Limited, has flagged off the distribution of agricultural inputs and single-digit credit to smallholder farmers in Jigawa State under the Federal Government’s Renewed Hope Smallholder Support and Value Chain Programme.
Speaking at the flag-off ceremony, Executive Director of Operations and Technology at BOA, Mr Hakeem Oluwatosin Salami (representing Managing Director/CEO Mr Ayo Sotinrin), stated that the initiative combines affordable credit, hybrid seeds, fertilisers, agrochemicals, extension services, and guaranteed off-take access.
The nationwide programme is to support over two million smallholder producers, deploying more than 10 million bags of fertiliser alongside improved seeds and structured credit across 20 states.
Salami confirmed that 200,000 farmers are targeted during the current wet season, expanding to 500,000 during the upcoming dry season, with over one-third of beneficiaries being women.
“Our objective is not only to provide farm inputs but also to significantly improve farmers’ productivity and profitability. Through access to hybrid seeds, quality fertilisers, agronomic support, and structured financing, we expect participating farmers to double or even triple their crop yields,” Salami noted.
Under the financial structure of the scheme, participating farmers receive an input package valued at approximately ₦500,000, which includes hybrid seeds, two to three bags of fertiliser, and 20 litres of agrochemicals.
The package operates as a single-digit loan facility at an annual interest rate of 9 per cent, made possible through Federal Government intervention funds.
The loan operates on a nine-month repayment period, enabling farmers to repay after their harvest and maintain a revolving fund for future seasons.
Credit delivery and commodity off-take are structured through accredited aggregators such as WACOT Limited, focusing on key local crops including sesame, rice, and soybeans.
Managing Director of WACOT Limited, Mr Naveen Chaurasia, reaffirmed the company’s commitment to supplying verified inputs and field technical support to overcome poor yield practices.
Representing the Gumel Emirate Council, Alhaji Musa Ayuba commended the initiative’s impact on local sesame production, a major agricultural export from Jigawa, and pledged traditional council support to mobilise farmers and enforce timely loan repayments.
Source: Bank of Agriculture
