Shettima Orders Swift ₦250bn Loan Disbursement to Farmers

Shettima Orders Swift ₦250bn Loan Disbursement to Farmers

By Abiola Adigun

Vice-President Kashim Shettima has directed the Presidential Food Systems Coordinating Unit (PFSCU) to immediately commence the disbursement of the federal government’s ₦250 billion loan to smallholder farmers at a single-digit interest rate.
Speaking at the sixth steering committee meeting of the PFSCU on Thursday at the Presidential Villa in Abuja, Shettima said the initiative is central to President Bola Tinubu’s agricultural transformation agenda and Nigeria’s push to achieve food security.
According to Stanley Nkwocha, the vice-president’s spokesperson, Shettima urged the unit to develop a clear roadmap that ensures transparent and timely distribution of funds. He stressed that the loans must reach genuine farmers and translate into measurable productivity gains.
“We must prevent bureaucratic bottlenecks and guarantee that this intervention impacts directly on the lives of small holder farmers who form the backbone of our food system,” Shettima said.
“I also want to place it on record, our deep appreciation for Mr. President’s leadership and guidance. His clear directives on fertiliser liberalisation and the presidential seed fund have empowered the PFSCU to fast-track delivery in ways that strengthen our food systems.”
The vice-president added that Nigeria’s agricultural revival requires sustained collaboration between government agencies, private investors, and development partners. He also tasked stakeholders to work on revitalising the seed sector and expanding the country’s strategic grain reserves.
Nigeria has launched a series of policy reforms under Tinubu’s administration aimed at reducing food import dependence, stabilising prices, and boosting farmer productivity. These include fertiliser liberalisation, the ₦50 billion Presidential Seed Fund, and the World Bank–supported $500 million AGROW programme.
Marion Moon, the PFSCU coordinator, noted that while Nigeria remains food insecure—with 30.8 million Nigerians at risk—substantial progress has been made in coordination and farmer support.
“Since the last SteerCo meeting in April, the PFSCU has achieved major milestones: 250,000 farmers insured under the National Agribusiness Policy Mechanism, the launch of the Harvesting Hope Caravan across eight states, approval of the ₦50 billion Seed Fund, and progress on the AGROW programme,” she said.
Governors present at the meeting also weighed in. Ekiti State Governor Biodun Oyebanji called for a transparent structure to guide the disbursement of funds, while Jigawa State Governor Umar Namadi and Cross River State Governor Bassey Otu advocated subsidies to cushion local farmers against rising costs of production.
The meeting was attended by ministers of finance and agriculture, their deputies, state representatives, the Association of Local Government of Nigeria (ALGON) president, and private sector partners.
With the disbursement of the ₦250 billion loan, the federal government hopes to kick-start what it calls an agricultural revolution—boosting food output, stabilising prices, and empowering millions of farmers across Nigeria.