The Federal Government has unveiled plans to increase Nigeria’s annual grain output from 11 million tonnes to about 25 million tonnes through the Renewed Hope Smallholder Agricultural Financing Programme.
The initiative, launched on Friday in Zaria, Kaduna State, is aimed at boosting domestic food production, improving farmers’ access to agricultural inputs and reducing food inflation.
Speaking at the inauguration, the Minister of Agriculture and Food Security, Abubakar Kyari, said the programme would provide smallholder farmers with quality farm inputs to increase crop yields and strengthen national food security.
Kyari said the government was focused on tackling food inflation by expanding local production rather than relying on imports.
He explained 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.
The minister noted that although about 90 per cent of Nigerian farmers cultivate less than one hectare of land, they account for roughly 85 per cent of the country’s food production.
According to him, improved seeds, weather-based advisory services, timely distribution of inputs and guaranteed pricing are expected to increase agricultural output and make food more affordable.
Also speaking, the Managing Director of the Bank of Agriculture, Ayodeji Sotinrin, said the programme was designed to raise Nigeria’s annual grain production from 11 million tonnes to about 25 million tonnes.
He said farmers would have access to subsidised fertilisers, certified hybrid seeds and other essential inputs through the bank’s single-digit lending facility at an interest rate of nine per cent.
Sotinrin stressed that the inputs were not grants but loans provided under the bank’s financing scheme to ensure both affordability for farmers and the long-term sustainability of the programme.
He disclosed that 20 farm aggregators were selected from more than 1,240 applicants for the pilot phase after meeting the required technical and operational standards.
According to him, about 500,000 farmers are expected to benefit during the current farming season, with the programme set to expand to two million farmers next year and eventually reach five million farmers nationwide.
Sotinrin said that if five million farmers each cultivated one hectare of land and produced at least five tonnes per hectare, Nigeria would generate about 25 million tonnes of grain annually, enough to meet domestic demand, reduce dependence on imports and create opportunities for agricultural exports.
He added that the Bank of Agriculture also plans to finance irrigation projects to support year-round farming and improve farmers’ incomes.
The Group Managing Director of Arzikin Noma Africa, Adeoluwa Michael Adeshola, said the long-term success of the programme would depend on sustained private sector participation and prompt loan repayments by beneficiaries.
He noted that the financing would be repaid after harvest, allowing the revolving fund to support more farmers in subsequent planting seasons.
Adeshola also said traditional rulers, community leaders and security agencies had pledged to support the initiative by encouraging beneficiaries to repay their loans, helping to sustain the programme and improve food production across the country.
The Renewed Hope Smallholder Agricultural Financing Programme is one of the Federal Government’s flagship agricultural initiatives aimed at expanding access to finance, improving farm productivity and advancing Nigeria’s food security and food sovereignty goals.
