FarmerMoni interest-free loans: 22,000 farmers to benefit – FG
Elegbede Abiodun
Federal Government, through the National Social Investment Programme Agency, says not less than 22,000 farmers will benefit from interest-free loans under its FarmerMoni Dry and Wet Season Programme.
The National Programme Manager, Government Enterprise and Empowerment Programme under NSIPA, Mr Hamza Baba, said this at the unveiling of the Renewed Hope GEEP 3.0. and the FarmerMoni Technical Working Group in Abuja on Wednesday.
Hamza Baba, who described the loan as interest and collateral-free, said that the loans aimed to strengthen agricultural productivity and would be given to farmers across the country.
“Under this particular scheme, we are expecting that from today our portal will be open for eligible farmers, to go and register, to access our loans. And these loans are interest-free and collateral-free.
“The total sum per beneficiary is N300,000, and we arrive at this by looking at the economic production of each farming activity. So, we are targeting the vulnerable, poor farmers at the grassroots,” he said.
According to him, to access the loans, the farmer must be a Nigerian citizen and at least 18 years old.
“The farmer must own land or rent land. They must already be engaged in farming activities. We are not looking for new farmers.
“They should have a bank account, NIN, municipal identification, and must belong to a farming cooperative or association in your local government,” Baba said.
He said that the programme covered the 774 local governments in Nigeria.
“We have at the state level, our state programme managers who are working with our enumerators, the banks, the FinTech recovery agents.
“They will be working with agricultural development projects and all farmer associations in each of the 37 states of the federation.
“We are targeting more than 22,000 farmers for this phase, looking at about 28 farmers per local government,” he said.
The programme manager said that a similar s scheme, TraderMoni, was meant for artisans and petty traders.
The Minister of Humanitarian Affairs and Poverty Reduction, Dr Bernard Doro, while unveiling the Renewed Hope GEEP 3.0, said the event represented more than the unveiling of two policy initiatives.
According to him, it reflects the firm resolve of this administration to translate a vision into concrete actions.
He said that the plan was to improve lives, restore dignity and expand economic opportunities for Nigerians, particularly the vulnerable.
“The Renewed Hope Agenda of President Bola Tinubu is anchored on inclusion, resilience and shared prosperity.
“It is a commitment to ensure that growth is not limited to a few, but is broad-based and people-centred.
“The Renewed Hope G3.0 is a practical expression of this commitment,” he said.
According to the minister, through the programme, micro and small-scale entrepreneurs, artisans, traders and informal sector operators are being provided with access to affordable financial support that enables enterprise growth, job creation and opportunity stability.
“This is financial inclusion made real. It is about bringing those previously excluded from formal financial systems into the economic mainstream and empowering them to participate meaningfully in national development.
“In the same vein, the FarmerMoni Dry and Wet Season Programme is a strategic intervention aimed at strengthening agricultural productivity across the country.
“By supporting farmers throughout both planting cycles, this programme addresses seasonal vulnerabilities, enhances yield and contributes directly to national food security. Our farmers remain the backbone of the Nigerian economy.”
He said that supporting the farmers was an economic necessity and also a moral obligation.
“By investing in their productivity and resilience, we are reinforcing agriculture as a sustainable pathway out of poverty and a driver of rural development,” he said.
According to the minister, these programmes are deliberately designed to achieve one overarching objective, poverty reduction through empowerment.
NAN
