Posts
In a strategic move to bolster food security and empower smallholder farmers, the National Agricultural Development Fund (NADF) has unveiled a ₦1.5 billion maize farming scheme in partnership with Flour Mills of Nigeria (FMN) and ,NOVA Merchant Bank.
The ambitious initiative, launched on Wednesday, aims to cultivate 1,500 hectares of maize farmland in Kaduna State, with an initial target of 1,500 smallholder farmers. The project is set to serve as a pilot under the NADF’s on-lending facility, a financial mechanism designed to strengthen agricultural productivity and profitability among Nigeria’s farming population.
At the official launch, NADF Executive Secretary, Mohammed Ibrahim, emphasized that the scheme aligns with President Bola Tinubu’s “Renewed Hope Food Security and Market Priority Agenda.”
“The NADP-1 (National Agricultural Development Programme - Phase 1) is aimed at providing access to finance for Nigeria’s vast smallholder population,” Ibrahim said. “It also seeks to enhance farmer productivity and profitability, while guaranteeing returns for smallholders through strategic partnerships like the one we are launching today.”
Ibrahim added that the initiative is part of broader efforts to reposition agriculture as a key economic driver, saying, “We have seen many projects recently focused on ensuring agriculture takes its rightful place in Nigeria’s development.”
Speaking on behalf of FMN Agro, Managing Director Dr. Sadiq Usman described Kaduna as an ideal location for the pilot phase, noting that the state accounts for 20% of Nigeria’s maize output and is home to highly productive farmers.
“Better seeds, nutrition, and agronomic practices can significantly boost yields,” he stated. “We’re excited about this partnership. As our chairman says, a factory without a farm is scrap metal, and a farm without a factory is just weed. This program is about yield transformation and sustainability.”
Dr. Usman also affirmed FMN’s continued commitment to Nigeria’s agricultural transformation. As the country’s largest buyer of maize, soybeans, wheat, and sorghum, FMN sees maize production in Kaduna as central to strengthening its raw material supply chain and building more resilient farming communities.
NOVA Merchant Bank, the financial partner in the tripartite alliance, expressed its optimism about the program’s potential to unlock the full value of Nigeria’s agriculture sector.
“We’re proud to be the first financial institution to disburse funds under NADF’s on-lending facility. At NOVA, we view agriculture not just as a sector, but as a cornerstone of national development.”
She added that NOVA is committed to financing projects that stimulate economic growth, create employment, and enhance food security.
Also speaking, NOVA’s Head of Value Chain Banking, Esosa Igbineweka, explained the rationale for the bank's involvement:
“NADF cannot lend directly to farmers, so we act as intermediaries. FMN Agro meets our strict performance and risk criteria, and has a proven track record in engaging smallholder farmers.”
According to NADF’s Head of Investment, Olalekan Alabi, the program’s scale-up plan is already in motion. The current 1,500-farmer target is only the beginning.
“We aim to reach 10,000 farmers before the end of the 2025 wet season,” Alabi said. “The focus crops include maize, cassava, rice, soybean, and sorghum all selected for their high-impact potential across Nigeria’s food value chain.”
He added that NADF’s operations are national in scope, with partnerships already forming across several states.
No comments:
Post a Comment