{"id":122204,"date":"2025-09-12T10:58:05","date_gmt":"2025-09-12T09:58:05","guid":{"rendered":"https:\/\/pointblanknews.com\/pbn\/?p=122204"},"modified":"2025-09-12T10:58:05","modified_gmt":"2025-09-12T09:58:05","slug":"n250bn-farmers-loan-shettima-orders-swift-disbursement-at-single-digit-rate","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/news\/n250bn-farmers-loan-shettima-orders-swift-disbursement-at-single-digit-rate\/","title":{"rendered":"N250bn Farmers Loan: Shettima Orders Swift Disbursement at Single Digit Rate"},"content":{"rendered":"<div style=\"text-align: justify;\">By Myke Agunwa, Abuja<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">The Vice President, Senator Kashim Shettima, has directed the Presidential Food Systems Coordinating Unit (PFSCU) to accelerate the disbursement of the Federal Government\u2019s \u20a6250 billion credit support for smallholder farmers at a single-digit interest rate.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">Accordingly, he instructed the PFSCU to develop an implementation roadmap for releasing the funds, emphasizing that it was essential to avoid further delays and to ensure that the target beneficiaries are reached.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">Shettima issued the directive during the 6th meeting of the PFSCU Steering Committee, held at the Presidential Villa, Abuja, according to a statement by Stanley Nkwocha, Senior Special Assistant to the President on Media &amp; Communications (Office of the Vice President).<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">\u201cOn the Bank of Agriculture \u20a6250 billion facility, we need to sit down with all stakeholders and develop a solid roadmap that guarantees these funds reach the intended farmers and lead to tangible productivity improvements,\u201d the Vice President said.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">VP Shettima praised President Bola Ahmed Tinubu for granting the PFSCU political support to undertake bold reforms, notably, the fertilizer raw material liberalization and the Presidential Seed Fund.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">\u201cI want to record our deep appreciation for Mr. President\u2019s leadership and guidance. His clear directives on fertilizer liberalization and the seed fund have enabled the PFSCU to expedite delivery in ways that directly support farmers and bolster our food systems,\u201d he stated.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">Congratulating the PFSCU on its achievements so far, the VP observed that the unit\u2019s output has shown that \u201cwhen Federal Ministries, Departments and Agencies, the private sector, and development partners work together, we can move quickly from intent to action.\u201d<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">The Vice President also called for better collaboration among stakeholders to revitalize the seed sector and expand the strategic grain reserve through ongoing federal reforms.<\/div>\n<div style=\"text-align: justify;\">On his part, Ekiti State Governor Mr. Biodun Oyebanji emphasized the need for a structure to ensure that the N250 billion credit support designated for smallholder farmers by the Tinubu administration through the Bank of Agriculture reaches the farmers.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">He also requested financial support for the PFSCU, pledging that his state was prepared to provide monthly financial assistance.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">Similarly, Jigawa State Governor Malam Umar A. Namadi praised the efforts of the Bank of Agriculture, stressing the importance of providing subsidies to Nigerian farmers.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">Cross River State Governor, Senator Bassey Otu, agreed on credit issuance but advised that local farmers be incentivized through subsidies.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">Earlier, PFSCU Coordinator Ms. Marion Moon highlighted the urgency of safeguarding Nigeria\u2019s fragile food security, noting that 30.8 million Nigerians remain food insecure.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">She reported significant progress in strengthening coordination and collaboration with MDAs across all three tiers of government.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">Since the last Steer committee meeting in April, the PFSCU, through various MDAs, has achieved key milestones: insuring 250,000 farmers under the National Agribusiness Policy Mechanism (NAPM); launching Phase I of the Harvesting Hope Caravan in eight states in partnership with state and local governments; approving the \u20a650 billion Seed Fund; and advancing the World Bank\u2013supported $500 million AGROW program.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">Members praised the Harvesting Hope Caravan, which is actively engaging communities alongside subnational governments.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">This initiative underscores that agriculture is a collective responsibility\u2014federal, state, local governments, the private sector, and farmers must align their vision and efforts to maintain progress.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">The meeting was attended by Deputy Governors of Niger and Ebonyi States, the Ministers of Finance and Agriculture, Ministers of State for Finance and Agriculture, ALGON President, and representatives from the private sector and development partners.<\/div>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content --><!-- AddThis Related Posts generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>By Myke Agunwa, Abuja The Vice President, Senator Kashim Shettima, has directed the Presidential Food Systems Coordinating Unit (PFSCU) to accelerate the disbursement of the Federal Government\u2019s \u20a6250 billion credit&hellip;<!-- AddThis Advanced Settings generic via filter on wp_trim_excerpt --><!-- AddThis Share Buttons generic via filter on wp_trim_excerpt --><!-- AddThis Related Posts generic via filter on wp_trim_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":112951,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-122204","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - 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