From Umar Dankano, Yola
The Federal Government in partnership with the Bank of Agriculture, (BOA) has officially launched the Renewed Hope Small holder Agricultural financing programme aimed to boost farmers morale for food security development in Adamawa state.
The programme is being implemented in collaboration with Sterling Bank,Japtini foods and Retails and selected private-sector aggregators to enhance the country’s annual grain production from 11 Million tonnes to 25 million tonnes as parts of strategy to ensure food security and curb rising food prices.
Speaking at the input distribution flag-off ceremony and launch of the Renewed Hope Smallholder and Value Chain Fund in Yola, the Adamawa state capital, the Managing Director, (MD). Bank of Agriculture,BOA. Ayodeji Oludere Sotinrin said the initiative would provide affordable financing, improved seeds, fertilizer and other critical farm inputs to millions of smallholder farmers across the country.
Represented by the Regional Controller of the Bank of Agriculture, Sotinrin said the intervention is expected to benefit 500,000 farmers during the curr nt wet season, expand to two million farmers next year and eventually reach five million farmers across the country.
Sotinrin stressed that if each participating farmer cultivates one hectare and harvests an average of five tonnes, Nigeria’s annual grain output could rise to about 25 million tonnes, creating opportunities for food sufficiency, exports and job creation.
He stressed that the farm inputs were not grants but financed through BOA’s single-digit loan facility at 9 per cent interest, describing the revolving financing model as critical to the programme’s sustainability.
Sotinrin said only 20 farm aggregators were selected from more than 1,240 applicants after meeting the bank’s technical and operational requirements for the pilot phase disclosing plans to introduce irrigation financing and irrigation-as-a-service to promote year-round farming, reduce dependence on rain-fed agriculture and improve farmers’ productivity and incomes.
He therefore urged beneficiaries to use the inputs strictly for farming, comply with extension services and repay the loans after harvest to enable more farmers benefit from subsequent phases.
Also speaking at the launch, Managing Director of Japtini Food and Retails firm,Dimieari Von Kemedi said that the vision for the out growers scheme is to ensure farmers morale are boost through provision of farming implement through a soft revolving loan .
Kemedi advised the 300 participants to use the opportunity to improve their farming activities for high production and yield to ensuring food security in our communities.
In his keynote address, the Minister of livestock development,Mukhtar Idi Maiha said that the President Bola Tinubu regime is always thinking ahead in providing condusive atmosphere for farmers to carry out their farming activities with out hitches
Maiha called for more sensitization of the people on this initiative ,which he described as very crucial and impactful to the country Agricultural sector, and urged the people of Adamawa to embrace this programme which would go along way to assist them and boost their farming activities and guaranteed food sufficiency in the country.
The minister further identify availability of long term loan to farmers and training of farmers on modern Agricultural practices as catalyst for Agricultural development of any society hence the need for farmers not to take this golden opportunity for granted but use it to improve their farming activities.
Maiha maintained that impactful policies and programs have been achieved through Agriculture and livestock development in both the state and in the country, adding that, very soon the Federal Government would come out with new programmes and initiatives that would also supports herders in the state (Adamawa) being an Agricultural state with large population of herders and farmers would benefits from the initiatives.
He urged the beneficiaries to reciprocate this gesture by paying back their loan in time when times come to enable them benefits from subsequent loans for dry farming and next year farming season.
Speaking on behalf of the beneficiaries, Mallam Modibbo expressed gratitude to the Federal government, Bank of Agriculture and other supporting partners for making this initiative, a reality pledging to abide by the regulation guiding the project.