Vice President Kashim Shettima has ordered the Presidential Food Systems Coordinating Unit (PFSCU) to expedite the disbursement of the Federal Government’s ₦250 billion credit support for smallholder farmers at a single digit interest rate. The directive came during the 6th meeting of the PFSCU Steering Committee held at the Presidential Villa, Abuja, where the Vice President stressed the need for a clear implementation roadmap to ensure timely delivery of the funds to the intended beneficiaries.
Speaking at the meeting, VP Shettima praised President Bola Ahmed Tinubu for providing political backing that has enabled the PFSCU to act decisively on key agricultural reforms, including the fertilizer raw material liberalization and the Presidential Seed Fund. He emphasized that the government’s coordinated efforts with federal ministries, agencies, the private sector, and development partners have demonstrated that rapid progress from policy intent to tangible outcomes is achievable.
The meeting also highlighted the need to strengthen collaboration among stakeholders to revitalize Nigeria’s seed sector and expand the strategic grain reserve. State Governors, including Ekiti’s Biodun Oyebanji, Jigawa’s Umar A. Namadi, and Cross River’s Bassey Otu, stressed the importance of structures and incentives to ensure that the credit support and other agricultural interventions reach local farmers, with additional financial assistance and subsidies encouraged where necessary.
PFSCU Coordinator Marion Moon noted the urgency of safeguarding Nigeria’s food security, citing that 30.8 million Nigerians remain food insecure. She reported significant achievements since April, including the insurance of 250,000 farmers under the National Agribusiness Policy Mechanism, the launch of Phase I of the Harvesting Hope Caravan across eight states, approval of the ₦50 billion Seed Fund, and progress on the 500 million US dollars World Bank supported AGROW program. The initiative underscores the importance of joint efforts between federal, state, and local governments, private sector actors, and farmers in sustaining agricultural development.