The Federal Government of Nigeria has launched a ₦300,000 interest-free and collateral-free loan scheme for smallholder farmers across the country.
The initiative runs under the FarmerMoni Programme. It is also part of the Government Enterprise and Empowerment Programme (GEEP), managed by the National Social Investment Programme Agency.
The programme aims to support farmers with quick access to funds. As a result, many smallholder farmers can expand their production.
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The government plans to reach more than 22,000 farmers across Nigeria. Beneficiaries will come from all 774 Local Government Areas.
In addition, the government has opened an online application portal. Eligible farmers can apply through the official platform.
The loan will help farmers buy important inputs. For example, they can purchase seeds, fertilisers and basic farming equipment.
To qualify for the loan, applicants must meet the following requirements:
- Be Nigerian citizens aged 18 years and above
- Be actively involved in farming
- Have a bank account and a National Identification Number (NIN)
- Belong to a registered farming cooperative in their local government
These requirements aim to ensure that genuine farmers benefit from the programme.
Access to credit remains a major challenge for smallholder farmers in Nigeria. However, this initiative aims to address that gap.
By providing affordable loans, the government hopes to increase agricultural productivity and improve food security.
In addition, the programme will help raise rural incomes and expand financial inclusion in farming communities.
