Abuja: The Federal Government says it has granted a N250 billion facility to the Bank of Agriculture (BOA) to support smallholder farmers in Nigeria and provide them with access to credit at a single-digit interest rate.
The Minister of Agriculture and Food Security, Sen. Abubakar Kyari, stated this at the Quarterly Citizens and Stakeholders Engagement Session on Friday in Abuja.
Kyari said that a key area of focus for the ministry was strengthening agricultural insurance and financing facilities and leveraging institutions such as the Nigerian Agricultural Insurance Corporation (NAIC), the National Agricultural Quarantine Service (NAQS), the Bank of Agriculture (BOA), and the National Agricultural Development Fund (NADF).
” In the last two years, the Nigerian Agricultural Insurance Corporation has supported 199,275 farmers with N700 billion risk cover, generating N2.43 billion premium income, and paid N200 million claims, boosting farmers’ resilience.
The grant aims to significantly boost agricultural productivity, improve food security, and equip farmers with modern resources.
“Specifically, the facility will support food production, enhance mechanisation and improve livelihoods,” he said.
He said the ministry’s mission was to boost agricultural productivity, create livelihood opportunities, and drive wealth creation, ultimately accelerating growth in this vital sector.
This meeting is a step toward structured stakeholder engagement, ensuring that government actions are transparent, well communicated, and guided by feedback.
In the past two years, the Federal Government has improved agricultural productivity and food security through various initiatives.
”Key achievements include the distribution of over 1.9 million bags of fertilisers to nearly 1 million farmers, promoting sustainable soil management with 12,000 litres of organic fertilisers, and strengthening regulatory frameworks.
” We have made notable collaborations and partnerships with Russia, Turkiye, India, and Canada to enhance fertiliser production and technology transfer.
Additionally, 109 fertiliser inspectors (specialists who ensure fertilisers meet standards) were trained and equipped, and over 329 industry stakeholders were trained on regulatory compliance,” he said.
The minister said that efforts have been made to curb the sale of fake fertilisers in Nigerian markets by persecuting offenders.
We have constructed a National Reference Laboratory and upgraded the National Fertiliser Management Platform to enhance fertiliser quality control, ensure regulatory compliance, and promote transparency in the fertiliser supply chain. Over 3,500 farmers received training in organic farming and soil management to promote sustainable agricultural practices.ces.
He said that the Agricultural Research Council of Nigeria (ARCN, a government agency driving research to improve agriculture) is driving transformative change in the country’s agricultural sector through cutting-edge research and development.
By advancing crop production and varietal development, ARCN improves food security, fosters agro-industrial growth, and enhances livelihoods.
The Council’s distribution of 40 million cocoa seedlings will help revitalise Nigeria’s cocoa industry and support long-term plantation and export growth.
Kyari said NADF has achieved significant milestones in the past two years, bolstering Nigeria’s agricultural sector.
In his remarks, the Minister of Information and National Orientation, Mohammed Idris, said the event reflected the governing philosophy of President Bola Tinubu, rooted in transparency, participation, and accountability.
Governance must not operate in isolation from the people. It should be open, responsive, and based on dialogue, he said.
He reiterated the Ministry of Information and National Orientation’s commitment to ensuring that Nigerians understood the direction and purpose of these reforms. Our role is to bridge the gap between policy decisions and public awareness. Communication ensures accountability, not propaganda. It ensures that citizens are informed about government initiatives and are given the opportunity to ask questions and provide feedback,” he said.
Idris commended Kyari for convening the forum and for his leadership in advancing Nigeria’s food security objectives.
Earlier, Dr Marcus Ogunbiyi, the Permanent Secretary of the Ministry of Agriculture and Food Security, said that the transformation of Nigeria’s agricultural and food systems is not merely an aspiration but an urgent national imperative.
Also speaking, Prof. Abdulhameed Yusuf, President of the Nigerian Society for Plant Protection, called on the government to address the issue of pests and diseases affecting plants.
Other stakeholders also called on the government to address issues such as post-harvest losses, mechanisation, land access, and farm insecurity.
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