The Federal Government, through the Bank of Agriculture (BOA), has distributed 10 million bags of fertiliser to two million farmers nationwide under its Renewed Hope Smallholder Support and Value Chain Programme.
The Managing Director of the BOA, Mr Ayodele Sotinrin, disclosed this in a statement issued by the bank’s Corporate Communication Department.
According to the statement, the programme was officially launched in Zaria, Kaduna State, as part of efforts to strengthen support for smallholder farmers and boost food production across the country.
Sotinrin described the initiative as a significant shift in agricultural financing, stressing that it extends beyond credit provision to support every aspect of the agricultural value chain.
“The initiative is expected to reach two million smallholder farmers nationwide through the distribution of more than 10 million bags of fertiliser and improved seeds,” he said.
He revealed that nearly 300,000 farmers have already been onboarded, while more than 1.1 million bags of fertiliser and over 16,470 metric tonnes of improved seeds are currently being distributed across more than 20 states.
The programme is being implemented through 20 Farmer Aggregation Companies in collaboration with 15 accredited input suppliers.
Speaking during the launch, the Minister of Agriculture and Food Security, Senator Abubakar Kyari, said the initiative reflects the Federal Government’s commitment to improving domestic food production and supporting smallholder farmers.
According to him, smallholder farmers account for about 85 per cent of Nigeria’s food production despite operating on relatively small landholdings.
Kyari explained that the programme includes a guaranteed minimum price mechanism designed to address market uncertainty and protect farmers from exploitative pricing.
Under the arrangement, participating farmers are linked to Farmer Aggregation Companies that provide inputs, extension services and guaranteed off-take arrangements at government-approved prices.
“This ensures farmers have a guaranteed market, protects them from exploitative pricing and encourages greater investment in agricultural production,” the minister said.
The programme forms part of President Bola Tinubu’s Renewed Hope Agenda, which seeks to transform agriculture through increased investment, stronger institutions, improved financing and strategic partnerships.
Officials say the initiative is expected to enhance food security, improve farmers’ incomes and strengthen agricultural productivity across the country.
