Abuja (Nigeria): Vice-President Kashim Shettima has directed the Presidential Food Systems Coordinating Unit (PFSCU), the body responsible for coordinating and overseeing the disbursement process, to ensure the speedy disbursement of the Federal Government’s ₦250 billion credit support for smallholder farmers at a single-digit interest rate.
Shettima gave the directive on Thursday during the 6th meeting of the PFSCU Steering Committee, held at the Presidential Villa, Abuja.
He emphasised the need for the PFSCU to come up with an implementation roadmap for the disbursement of the funds.
According to him, it was necessary to avoid further delays and ensure that the target beneficiaries of the initiative were reached.
He stressed the importance of collaboration, saying,” 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. “
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 fertiliser 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 stated.
Shettima commended the PFSCU for the achievements recorded so far and noted the output of the unit.
He added,” When Federal Ministries, Departments and Agencies, the private sector and development partners align, we can move swiftly from intent to delivery.”
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, which aims to [brief description of the initiative and its goals].
Gov. Biodun Oyebanji of Ekiti emphasised the importance of establishing a structure to ensure that the N250 billion credit support allocated by the Tinubu administration through the Bank of Agriculture reaches smallholder farmers.
He also called for financial support for the PFSCU, pledging that his state was ready to provide financial assistance to them monthly.
Gov. 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.
Gov. Bassey Otu of Cross River agreed on credit issuance, advising, however, that local farmers be encouraged with incentives through subsidies.
The PFSCU Coordinator, Ms 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.