The Federal Government has commenced the disbursement of interest-free and collateral-free loans to farmers in Plateau.
Mrs Mary Fom, the Plateau Coordinator, National Social Investment Programme (NSIP), disclosed this during a one-day engagement with stakeholders yesterday in Jos.
Fom said that the initiative, tagged “FarmerMoni Intervention Programme”, is implemented by the Renewed Hope Enterprise and Empowerment Programme (RH-GEEP).
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 that 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 commencement of repayment by the beneficiaries.
“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, off-take mechanism, free extension services, among others.
Fom, however, said that though “the loan is free, beneficiaries will be properly monitored to ensure that the loan is not mismanaged”.
She said that the beneficiaries included farmers who were into 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.