By Yusuf Danjuma Yunusa

The federal government has launched a N250 billion credit facility for smallholder farmers, channeled through the Bank of Agriculture (BOA) to provide much-needed access to credit at a single-digit interest rate. The initiative is designed to bolster agricultural productivity and enhance food security across the nation.

Minister of Agriculture and Food Security, Abubakar Kyari, disclosed this during the Quarterly Citizens and Stakeholders Engagement Session held on Friday in Abuja. He explained that a key priority for the ministry involves strengthening agricultural insurance and finance mechanisms by 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 past two years, the Nigerian Agricultural Insurance Corporation has provided risk cover worth N700 billion to 199,275 farmers, generating N2.43 billion in premium income while paying out N200 million in claims to enhance farmers’ resilience. The newly announced credit facility aims to build on such efforts by supporting food production, improving mechanisation, and creating sustainable livelihoods.

The Minister emphasised that the ministry’s overarching mission is to accelerate growth in the agricultural sector by boosting productivity and creating economic opportunities. He described the stakeholder engagement session as a critical step toward ensuring transparency and incorporating public feedback into government programmes.

Over the last two years, several initiatives have been implemented to strengthen the agricultural sector. These include the distribution of more than 1.9 million bags of fertilisers to nearly one million farmers, alongside 12,000 litres of organic fertilisers to promote sustainable soil management.

To combat the circulation of counterfeit fertilisers, the government has prosecuted offenders, constructed a National Reference Laboratory, and upgraded the National Fertiliser Management Platform to enhance quality control and transparency. Additionally, 109 fertiliser inspectors and over 329 industry stakeholders have received training on regulatory compliance.

International collaborations have also been established with Russia, Türkiye, India, and Canada to facilitate technology transfer and improve fertiliser production capacity. More than 3,500 farmers have been trained on organic fertilisers and soil management techniques to encourage sustainable agricultural practices.

The Agricultural Research Council of Nigeria (ARCN) has been driving transformative change through research and development, focusing on crop production and varietal improvement. The council has distributed 40 million cocoa seedlings aimed at revitalising the nation’s cocoa industry, supporting long-term plantation development and boosting export potential.

Meanwhile, the National Agricultural Development Fund (NADF) has recorded significant milestones over the past two years in advancing the agricultural sector.

Minister of Information and National Orientation, Mohammed Idris, described the engagement forum as a reflection of President Bola Tinubu’s governing philosophy rooted in transparency, participation, and accountability.

He stressed that governance must remain open and responsive to the people, adding that his ministry is committed to bridging the gap between policy decisions and public awareness. “Communication is not propaganda; it is accountability,” he said, noting that citizens should be well-informed and given the opportunity to provide feedback on government initiatives.

In his opening remarks, Permanent Secretary of the Ministry of Agriculture and Food Security, Marcus Ogunbiyi, underscored that transforming Nigeria’s agricultural and food systems is not merely an aspiration but an urgent national imperative.