Vice President Kashim Shettima has directed the Presidential Food Systems Coordinating Unit (PFSCU) to ensure the speedy disbursement of the federal government’s ₦250 billion credit support for smallholder farmers at a single-digit interest rate.
Mr Shettima gave the directive on Thursday during the sixth meeting of the PFSCU Steering Committee at the Presidential Villa, Abuja.
He emphasised the need for the PFSCU to develop an implementation roadmap for the disbursement of the funds.
According to him, it is necessary to avoid further delays and ensure that the target beneficiaries of the initiative are reached.
He said, ”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.”
Mr Shettima commended President Bola Tinubu for granting the PFSCU the political backing to act boldly on priority reforms, notably the fertiliser raw material liberalisation and the Presidential Seed Fund.
”I want to place on record our deep appreciation for Mr President’s leadership and guidance.
”His clear directives on fertilizer liberalization and the seed fund have empowered the PFSCU to fast-track delivery in ways that directly support farmers and strengthen our food systems,” he stated.
Mr. Shettima commended the PFSCU for the achievements it has recorded so far and noted the unit’s output.
He added, “When federal ministries, departments and agencies, the private sector and development partners align, we can move swiftly from intent to delivery.”
Mr Shettima called for improved collaboration among stakeholders to revitalise the seed sector and expand the strategic grain reserve through the ongoing reform initiative of the federal government.
Governor Biodun Oyebanji of Ekiti stressed the need to establish a structure to ensure that the N250 billion credit support earmarked for smallholder farmers by the Tinubu administration through the Bank of Agriculture reaches beneficiaries.
He also called for financial support for the PFSCU, pledging that his state was ready to provide financial assistance to them on a monthly basis.
Governor Umar Namadi of Jigawa commended the efforts of the Bank of Agriculture, emphasising, however, that there is a need to provide subsidies for local Nigerian farmers.
Governor Bassey Otu of Cross River agreed to credit issuance, advising, however, that local farmers be encouraged with incentives through subsidies.
The PFSCU coordinator, Marion Moon, underscored the urgency of protecting Nigeria’s fragile food security gains, with 30.8 million Nigerians still food insecure.
She said the unit had recorded significant progress in strengthening coordination and collaboration with MDAs across all three tiers of government.
(NAN)
