The Nigerian Federal Government, via the National Social Investment Programme Agency (NSIPA), has launched an initiative to provide interest-free loans to 22,000 farmers across the country under its FarmerMoni Dry and Wet Season Programme. The programme aims to strengthen agricultural productivity in Nigeria by making financial resources more accessible to farmers, particularly those identified as vulnerable or poor. The loans will be collateral-free and are intended to give a significant boost to agricultural activities by providing necessary financial support at crucial seasons.

Mr. Hamza Baba, the National Programme Manager for the Government Enterprise and Empowerment Programme, emphasized that the loans would be made available today with an online portal opened for eligible farmers to register. Each beneficiary can receive up to N300,000, tailored according to the economic production requirements of their specific farming activities. This initiative reflects the government's commitment to improving the agricultural sector and supporting the livelihoods of farmers, especially in a country where agriculture is a cornerstone of the economy and food security.

The FarmerMoni initiative represents a strategic effort by the Nigerian government to enhance agricultural resilience and productivity amidst ongoing economic challenges. By targeting poor and vulnerable farmers, the programme not only aims to increase food production but also to promote financial inclusion. Ensuring that farmers have access to necessary funds could play a significant role in increasing the overall productivity of the agricultural sector in Nigeria, thus contributing to the nation's economic growth and stability.