2.4 million farmers to benefit from CBN’s zero interest rate


Federal Government is to create about five to 10 million jobs in the agricultural sector through the Agriculture for Food and Job Plan (AFJP).Minister of Agriculture and Rural Development, Alhaji Muhammad Nanono, said this on Tuesday in Abuja at a ministerial press briefing ahead of the 2020 World Food Day Celebration.

World Food Day is celebrated annually on Oct. 16 in more than 150 countries to raise global awareness on issues of poverty and hunger.

The theme for this year is “Grow, Nourish, Sustain. Together, our actions are our future”.

The minister said the AFJP, a component of President Muhammadu Buhari’s Nigeria Economic Sustainability Plan (NESP), was launched in July to cultivate more land in each state and provide zero interest loans to farmers, among others.He said, “The first phase of the scheme has produced over 1.1 million beneficiaries across all states and the FCT.

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“Out of the 5 million planned beneficiaries for AFJP, Federal Ministry of Agriculture and Rural Development has empowered 1,138,000 farmer-beneficiaries across the 36 states and the FCT under the first phase of implementation.

“Since the beginning of the 2020 farming season, the Ministry has distributed inputs in states across the country to boost food production. Nigeria last year (2019) recorded a boost in the production of her major staple crops.

“According to the data from the Ministry, maize and rice production rose from 12.8 and 12.3 to 13.94 and 14.28 million metric tonnes (MMT) respectively last year.”

The minister said the present administration was not resting on its oars in addressing challenges of the country’s agricultural sector.He said, ” The Federal Government through the Agro Processing Productivity Enhancement and Livelihood Improvement Support project (APPEALS) has set aside N600 billion as loan support to farmers across the country.

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” No fewer than 2.4 million farmers are expected to benefit from the loan which has zero interest.”

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