FG TO DISBURSE N300,000 INTEREST-FREE LOANS TO 22,000 FARMERS UNDER FARMERMONI SCHEME

FG TO DISBURSE N300,000 INTEREST-FREE LOANS TO 22,000 FARMERS UNDER FARMERMONI SCHEME


The Federal Government has announced that no fewer than 22,000 farmers across Nigeria 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 on Wednesday in Abuja during the inauguration of the Renewed Hope Government Enterprise and Empowerment Programme (GEEP 3.0) and the FarmerMoni Technical Working Group.

Speaking at the event, the National Programme Manager of GEEP under NSIPA, Mr. Hamza Baba, said the loan scheme is designed to strengthen agricultural productivity nationwide. He explained that each beneficiary would receive up to N300,000, with no interest or collateral required.

According to Baba, the application portal will be open to eligible farmers across the country, covering all 774 local government areas. He noted that the programme is specifically targeted at vulnerable and small-scale farmers already engaged in agricultural activities.

“To qualify, applicants must be Nigerian citizens aged 18 years and above. They must own or rent farmland and must already be actively involved in farming. The programme is not intended for new entrants into agriculture,” he stated.

He added that prospective beneficiaries must possess a valid bank account, National Identification Number (NIN), municipal identification, and must belong to a recognised farming cooperative or association within their local government area.

Baba disclosed that approximately 28 farmers per local government area are expected to benefit in this phase of the programme. State programme managers, enumerators, financial institutions, agricultural development projects, and farmer associations will collaborate to ensure effective implementation and monitoring.

He further noted that while FarmerMoni is tailored for farmers, TraderMoni under the GEEP framework is designed to support artisans and petty traders.

Also speaking at the event, the Minister of Humanitarian Affairs and Poverty Reduction, Dr. Bernard Doro, described the Renewed Hope GEEP 3.0 and FarmerMoni initiatives as strategic tools for expanding financial inclusion and reducing poverty.

The minister said the programmes align with the administration’s broader economic agenda aimed at promoting inclusion, resilience, and shared prosperity. He explained that the schemes are structured to provide affordable financial support to micro and small-scale entrepreneurs, informal sector operators, and farmers to stimulate enterprise growth and job creation.

According to him, supporting farmers throughout both planting cycles will address seasonal challenges, improve yields, and contribute to national food security.

“These programmes are deliberately designed to achieve one overarching objective — poverty reduction through empowerment,” the minister said.

The Federal Government reiterated its commitment to strengthening agriculture as a pathway to rural development and economic stability.

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