The Federal Government has pledged to provide single-digit loans to farmers as part of its intervention efforts to support local producers and reduce production costs.
Vice-President Shettima made this known on Friday during a steering committee meeting of the Presidential Food Systems Coordinating Unit (PFSCU) at the Presidential Villa, Abuja.
Shettima reaffirmed the government’s commitment to aiding local farmers through targeted interventions, stressing the need for strategic policies to address economic challenges in the agricultural sector.
“The economic realities facing local farmers demand strategic government intervention to reduce production costs and support local farmers,” he said.
He emphasized that President Bola Tinubu’s administration is determined to revitalise stalled high-impact agricultural projects to encourage farming activities across the country.
To achieve this, Shettima noted that the Presidential Food Systems Coordinating Unit has evolved from an advisory body into an incubator for practical solutions in the food production sector.
ALSO READ:Atiku leads El-Rufai, others on condolence visit to Clark’s family
The Vice-President cited lessons from Asian economies, stressing that Nigeria would take a cue from their agricultural transformation strategies.
“I have read the work of Joe Studwell on How Asia Works, and I am reading it again.
“I read how South Korea, a former poor nation, was able to become the world’s number one steel producer.
“They gave hefty discounts and single-digit loans to the Daewoos, LGs, and Samsungs, who are now global leaders even in the semi-conductor business. They were able to develop their economy,” Shettima said.
As part of the government’s food security drive, Shettima directed Governors Umar Namadi of Jigawa and Francis Nwifuru of Ebonyi to engage with a Brazilian delegation on ways to transform food production in their states.
“As two of the major food-producing states in the federation, I urge the governors to interface with them and see what we can do,” he added.
Speaking at the event, Governor Namadi acknowledged the PFSCU’s critical role in transforming Nigeria’s agriculture and food security.
“The committee is a very important one that has the potential of improving food security,” Namadi said.
Gov Nwifuru, on his part, called for clearly defined priorities for farmers and better preparations ahead of every farming season.
Also speaking, Marion Moon, the Technical Assistant to the President on Agriculture (Office of the Vice President) and the PFSCU coordinator, reaffirmed the unit’s commitment to ensuring affordable food for all Nigerians.
Moon emphasized that incentivizing the sector through financial support would increase production and maintain food stability.
and then