Vice President Kashim Shettima on Thursday directed the Presidential Food Systems Coordinating Unit (PFSCU) to fast-track the disbursement of the Federal Government’s ₦250 billion credit support for smallholder farmers at a single-digit interest rate.
Speaking at the sixth meeting of the PFSCU Steering Committee, held at the State House, Abuja, Shettima said an implementation roadmap must be developed to ensure the funds reach the target beneficiaries without further delay.
“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,” the Vice President declared.
Shettima commended President Bola Ahmed Tinubu for granting the PFSCU the political cover to act decisively on priority agricultural reforms, particularly the liberalisation of fertilizer raw materials and the establishment of the Presidential Seed Fund.
“I want to place it on record, our deep appreciation for Mr. President’s leadership and guidance. His clear directives on fertilizer liberalisation and the seed fund have empowered the PFSCU to fast-track delivery in ways that directly support farmers and strengthen our food systems,” he said.
The Vice President praised the PFSCU for achievements recorded so far, saying its performance had shown the impact of effective collaboration between government, private sector and development partners.
“The output of the unit has demonstrated that when Federal Ministries, Departments and Agencies, the private sector and development partners align, we can move swiftly from intent to delivery,” he noted.
Shettima further urged stakeholders to improve collaboration to revitalise Nigeria’s seed sector and expand the nation’s strategic grain reserve under the ongoing reform initiatives of the Federal Government.
Ekiti State Governor, Mr. Biodun Oyebanji, stressed the importance of creating a framework that guarantees that the ₦250 billion facility earmarked for smallholder farmers by the Tinubu administration through the Bank of Agriculture actually reaches the intended beneficiaries. He also pledged his state’s readiness to provide financial assistance to the PFSCU on a monthly basis.
Similarly, Jigawa State Governor, Malam Umar A. Namadi, commended the Bank of Agriculture but emphasised the need to introduce subsidies to support local Nigerian farmers. Cross River State Governor, Senator Bassey Otu, also backed the credit scheme but advised that local farmers be further encouraged with incentives through subsidies.
Earlier, PFSCU Coordinator, Ms. Marion Moon, warned of the urgency of protecting Nigeria’s fragile food security gains, noting that 30.8 million Nigerians remain food insecure. She highlighted the unit’s progress in strengthening coordination and collaboration with ministries, departments and agencies (MDAs) across all three tiers of government.
Moon explained that since the last Steering Committee meeting in April, the PFSCU had achieved significant milestones. These include providing insurance coverage for 250,000 farmers under the National Agribusiness Policy Mechanism (NAPM), launching Phase I of the Harvesting Hope Caravan across eight states in partnership with state and local governments, securing approval of the ₦50 billion Seed Fund, and advancing work on the World Bank–supported $500 million AGROW programme.
Committee members commended the Harvesting Hope Caravan, which is engaging communities nationwide in partnership with subnational governments. They stressed that the initiative reflects the principle that agriculture is a shared responsibility requiring federal, state, and local governments, alongside the private sector and farmers, to align in vision and purpose to sustain progress.
Deji Elumoye
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