The federal government has commenced disbursements of interest-free, collateral-free loans to farmers in Plateau.
Mary Fom, the National Social Investment Programme’s plateau coordinator, disclosed this during a one-day engagement with stakeholders on Wednesday in Jos.
Ms Fom said the initiative, tagged ‘FarmerMoni Intervention Programme,’ was implemented by the Renewed Hope Enterprise and Empowerment Programme.
She explained that the initiative, aimed at tackling food insecurity, is the brainchild of NSIP and the Federal Ministry of Humanitarian Affairs and Poverty Reduction.
She further said the initiative, specifically packaged for both dry- and wet-season farming, would grant each beneficiary access to N300,000.
She added that the loan had a six-month moratorium before beneficiaries commenced repayment.
“This is a strategic intervention under the Renewed Hope Agenda of the federal government. It is designed to promote interest-free financial support, capacity building, insurance cover, and market access to small- and medium-scale farmers, particularly those in rural communities.
“Essentially, the scheme aims to boost agricultural productivity, enhance food security, promote financial inclusion, and reduce poverty. It also aims at creating employment opportunities and improving the socio-economic well-being of farmers in Plateau and beyond,” she said.
The coordinator added that beneficiaries would enjoy insurance coverage, an off-take mechanism, and free extension services, among others.
Ms Fom, however, said that though “the loan is free, beneficiaries will be properly monitored to ensure that the loan is not mismanaged”.
She said the beneficiaries included farmers engaged in crop production, poultry, aquaculture, and livestock rearing, among others.
Traditional rulers, community leaders, farmers, government officials, representatives of financial institutions, among others, attended the meeting.
(NAN)
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