FG approves ₦2b interest-free loans for farmers

By Ibrahim umar,

Kanempress News,

23rd, January,2025

The Federal Government has announced the approval of ₦2 billion in interest-free loans for farmers in rural areas.

The initiative, which is part of a broader poverty reduction strategy, aimed at supporting food production and improving the livelihoods of Nigerian farmers.

The Minister of Humanitarian Affairs and Poverty Reduction, Professor Nentawe Yilwada, made the announcement in Abuja at the launch of the 2025 Nigeria Humanitarian Needs and Response Plan (HNRP) at the United Nations House.

According to Yilwada, the loans, ranging from ₦300,000 to ₦400,000 per household, will help farmers access necessary resources and link them to market opportunities.

“The government has allocated ₦2 billion to provide interest-free loans to farmers in rural communities. These funds are intended to empower farmers and drive food sufficiency,” he said.

The initiative also prioritises vulnerable groups, especially women, widows, pregnant women, and individuals with disabilities.

“We are prioritising women, especially widows, pregnant women, and those with disabilities. The experiences of displaced women, particularly those facing pregnancy or disability, are especially challenging. We understand these vulnerabilities and will continue to support those who are most in need,” Yilwada said.

In addition to the loans, the Federal Government has approved a ₦4 billion conditional cash transfer program to assist displaced households.

The programme, which will begin in February and run until April, is expected to reach at least 10 million families affected by displacement and natural disasters, particularly in the Northeast.

“The President has approved the Ministry’s plan to begin paying conditional cash transfers to 10 million displaced households between February and April. This initiative aims to support those most in need, particularly vulnerable families affected by displacement,” Yilwada stated.

The Nigeria Humanitarian Needs and Response Plan, which was developed through extensive consultations, seeks to tackle humanitarian challenges in Northeast conflict-affected states like Borno, Adamawa, and Yobe.

The programme integrates humanitarian aid, development, and peacebuilding efforts to ensure long-term resilience and sustainable solutions for affected communities.

“We are combining the efforts of humanitarian, developmental, and peacebuilding platforms to ensure long-term resilience and sustainable solutions for these communities,” Yilwada explained.