FG to support 250,000 farmers in new agricultural scheme

Wale Edun, the minister of finance and coordinating minister of the economy, says the federal government will support 250,000 farmers as part of efforts to achieve food security and economic stability.

According to a statement by Mohammed Manga, director of information and public relations at the ministry, Edun spoke while unveiling the enhanced national agricultural growth scheme (NAGS) on Wednesday.

Manga said the minister, speaking at a high-level meeting, reaffirmed President Bola Tinubu’s commitment to agricultural transformation as part of broader macroeconomic stability measures.

Edun was said to have highlighted key economic indicators, including Nigeria’s 3.84 percent gross domestic product (GDP) growth, rising foreign reserves, and a stabilised exchange rate, as signs of economic progress.

He also emphasised the need for efficient financing, mechanisation, and strategic commodity storage to enhance productivity and ensure price stability.

“With funding support from the Japan International Cooperation Agency (JICA) and a newly signed Mechanisation and Commercialisation Programme with Brazil, the scheme will provide essential inputs, machinery, and financial support to 200,000 farmers during the wet season and 50,000 during the dry season, focusing on key crops such as rice, maize, cassava, and sorghum,” Edun was quoted as saying.

On his part, Cornelius Adebayo, the executive secretary of the National Agricultural Land Development Authority (NALDA), stressed the significance of a coordinated approach to agricultural development.

“This initiative integrates key ecosystem players to address commodity pricing, harvest losses, and productivity challenges, ensuring long-term food security and national reserves,” he said.

At the meeting, stakeholders also address challenges bordering on logistical hurdles in food distribution.

The ministry said the federal government is “committed to ensuring food security, promoting economic growth, and improving the lives of Nigerian farmers and citizens”.