By Busola Bamidele
Vice President Kashim Shettima has directed the Presidential Food Systems Coordinating Unit (PFSCU) to fast-track the release of the Federal Government's ₦250 billion credit support for smallholder farmers.
The intervention is designed to be accessed at a single-digit interest rate, giving agripreneurs affordable capital to boost food production.
Shettima, in a statement released via his X official handle, stressed the importance of creating an implementation roadmap that would ensure timely disbursement. He noted that the funds must reach the intended beneficiaries without bureaucratic delays.
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The Vice President emphasized that smallholder farmers remain central to Nigeria's food security drive, adding that easing their access to finance would strengthen the agricultural value chain and empower thousands of rural enterprises.
He gave the directive during the 6th meeting of the PFSCU Steering Committee, held on Thursday at the Presidential Villa, Abuja, where key stakeholders in the food systems and agriculture sector were present.
Analysts say the directive signals stronger government commitment to supporting SMEs in agriculture, with the potential to reduce food inflation, create jobs, and enhance self-sufficiency in critical staples.
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