By Opeyemi Adelakun
The Federal Government has unveiled plans to increase Nigeria’s annual grain production from 11 million tonnes to 25 million tonnes through the Renewed Hope Smallholder Agricultural Financing Programme as part of efforts to reduce food inflation and strengthen food security.
Speaking at the inauguration of the programme in Zaria, Kaduna State, on Friday, the Minister of Agriculture and Food Security, Abubakar Kyari, said the initiative is designed to improve farmers’ access to quality inputs, boost crop yields and increase local food production.
“We are committed to reducing food inflation by increasing production, not by relying on imports. The focus is to ensure that farmers have timely access to quality inputs to produce more food,” Kyari said.
He disclosed that about two million bags of agricultural inputs would be distributed through registered farm aggregators, who would also provide extension services and implement a Guaranteed Minimum Price mechanism to protect farmers from post-harvest exploitation.
Kyari described smallholder farmers as the backbone of Nigeria’s food system, noting that although about 90 per cent of them cultivate less than one hectare of land, they account for about 85 per cent of the country’s food production.
“Our smallholder farmers are the backbone of Nigeria’s food system. Supporting them is critical to achieving food security,” he added.
The Managing Director of the Bank of Agriculture, Ayodeji Sotinrin, said the programme is expected to raise annual grain production to about 25 million tonnes by expanding access to affordable financing and improved farm inputs.
According to him, the intervention will provide subsidised fertilisers, certified hybrid seeds and other essential inputs through the bank’s single-digit nine per cent interest loan scheme.
“The inputs are not grants. They are financed under BOA’s nine per cent lending scheme to make them affordable while ensuring the sustainability of the programme,” Sotinrin said.
He said about 500,000 farmers would benefit during the current farming season, with the programme expected to expand to two million farmers next year and eventually five million farmers nationwide.
Sotinrin explained that if five million farmers cultivate one hectare each and produce at least five tonnes per hectare, Nigeria would generate about 25 million tonnes of food annually, enough to meet domestic demand, reduce imports and create export opportunities.
The bank, he added, also plans to finance irrigation projects to support year-round farming and improve farmers’ incomes.
Also speaking, the Group Managing Director of Arzikin Noma Africa, Adeoluwa Michael Adeshola, said sustained private sector participation and prompt loan repayment by beneficiaries would be critical to the long-term success of the programme.
He noted that beneficiaries would repay the financing after harvest, allowing the revolving fund to support more farmers in subsequent planting seasons.
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