Shettima orders swift release of N250bn farm loan
Shettima Orders Immediate Release of ₦250bn Farm Loan to Boost Food Production
Vice President Kashim Shettima has directed the Presidential Food Systems Coordinating Unit (PFSCU) to fast-track the disbursement of the Federal Government’s ₦250 billion credit facility for smallholder farmers, to be issued at a single-digit interest rate.
Shettima issued the directive on Thursday during the 6th Steering Committee Meeting of the PFSCU, held at the Presidential Villa, Abuja.
Emphasising the urgency of the intervention, the Vice President said an implementation roadmap must be developed immediately to ensure the funds reach their intended beneficiaries without further delay.
“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,” he said.
Shettima praised President Bola Tinubu for providing strong political support for reforms in the agricultural sector, particularly regarding fertilizer raw material liberalization and the Presidential Seed Fund.
“Mr. President’s leadership and directives have enabled the PFSCU to move swiftly in implementing policies that directly support farmers and strengthen our food systems,” he added.
The Vice President also highlighted the importance of collaboration among federal MDAs, development partners, and the private sector to ensure efficient delivery of food security programs.
He called for renewed efforts to revamp the seed sector and expand Nigeria’s Strategic Grain Reserve, in line with ongoing federal reforms.
State Governors Back Initiative, Call for Accountability
Governor Biodun Oyebanji of Ekiti State stressed the need to establish a reliable structure that guarantees the ₦250 billion loan reaches real smallholder farmers. He also pledged his state’s willingness to provide monthly financial support to the PFSCU.
Governor Umar Namadi of Jigawa State commended the Bank of Agriculture’s efforts but noted that subsidies were crucial to support local farmers.
Governor Bassey Otu of Cross River echoed the need for credit access but also emphasized the importance of incentivizing farmers through supportive measures.
30.8 Million Nigerians Still Food Insecure — PFSCU
PFSCU Coordinator Marion Moon warned of the fragile state of Nigeria’s food security, noting that 30.8 million Nigerians remain food insecure.
She highlighted the unit’s achievements so far, especially in improving coordination across government tiers and agencies, but called for accelerated action to protect recent gains.
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