22,000 farmers to receive interest-free loans under FarmerMoni

The Federal Government has announced that no fewer than 22,000 farmers nationwide will benefit from interest-free loans under the FarmerMoni Dry and Wet Season Programme.

The initiative, implemented through the National Social Investment Programme Agency (NSIPA), was unveiled during the inauguration of the Renewed Hope GEEP 3.0 and the FarmerMoni Technical Working Group in Abuja.

Speaking at the event, the National Programme Manager of the Government Enterprise and Empowerment Programme (GEEP) under NSIPA, Mr. Hamza Baba, said the loans would be both interest-free and collateral-free, aimed at boosting agricultural productivity across the country.

According to Baba, the application portal has been opened for eligible farmers to register. Each beneficiary will receive up to N300,000, a figure determined based on the economic value of specific farming activities. He explained that the scheme targets vulnerable and low-income farmers at the grassroots.

To qualify, applicants must be Nigerian citizens aged 18 and above, already engaged in farming, and either own or lease farmland. They must also possess a bank account, National Identification Number (NIN), municipal identification, and be registered members of a farming cooperative or association within their local government area.

Baba noted that the programme will cover all 774 local government areas, with an average of 28 farmers expected to benefit from each council in this phase. State programme managers, enumerators, partner banks, FinTech recovery agents, agricultural development projects, and farmer associations will collaborate to ensure effective implementation across the 36 states and the Federal Capital Territory.

He added that while FarmerMoni focuses on farmers, the TraderMoni scheme is designed to support artisans and petty traders.

Minister of Humanitarian Affairs and Poverty Reduction, Dr. Bernard Doro, said the launch of Renewed Hope GEEP 3.0 and FarmerMoni reflects the administration’s commitment to translating policy into tangible action.

He stated that the programmes align with President Bola Tinubu’s Renewed Hope Agenda, which prioritises inclusion, resilience, and shared prosperity. According to him, the initiatives are intended to improve livelihoods, restore dignity, and expand economic opportunities, particularly for vulnerable Nigerians.

Doro described GEEP 3.0 as a practical tool for financial inclusion, providing micro and small-scale entrepreneurs, traders, artisans, and informal sector operators with access to affordable funding to grow their businesses and create jobs.

He added that the FarmerMoni Dry and Wet Season Programme is designed to strengthen agricultural productivity by supporting farmers during both planting cycles, reducing seasonal risks, improving yields, and enhancing national food security.

The minister emphasised that investing in farmers is both an economic imperative and a moral responsibility, noting that agriculture remains a key pathway for poverty reduction and rural development.

According to him, the overarching goal of the initiatives is to reduce poverty through empowerment and sustainable economic support.