Bank of Agriculture begins fertilizer and seedling distribution to 500,000 farmers
via Punch Nigeria2 min read
The Bank of Agriculture has initiated a nationwide distribution of fertilizers, maize seeds, and crop protection products to approximately 500,000 smallholder farmers. This effort falls under the Federal Government’s Renewed Hope Smallholder Support and Value Chain Fund, aiming to enhance food security and improve rural livelihoods. The intervention targets farmers in over 20 states, with plans to support the cultivation of about 520,000 hectares of farmland and generate an estimated 2.6 million tonnes of additional food. Ayo Sotinrin, the Managing Director and Chief Executive Officer of the Bank of Agriculture, announced the initiative during the flag-off in Dutse, Jigawa State, with Osho Adekunle, the bank’s Divisional Head of Finance and Strategy, representing him. The program has already financed nearly 200,000 farmers and is distributing 1.8 million bags of fertilizer and 329,000 bags of high-yielding seeds through 20 Farmer Aggregation Companies. Sotinrin noted that over one-third of the beneficiaries are women, highlighting the Federal Government’s commitment to inclusive agricultural development under President Bola Tinubu’s Renewed Hope Agenda. Beneficiary Solomon Mathew commended the administration, stating the intervention would ease the burden of acquiring costly farm inputs and boost productivity.
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This summary was AI-generated from a story originally published by Punch Nigeria.
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