Agribusiness Company, Arzikin Noma Africa has reaffirmed its commitment to Nigeria’s food security drive through a partnership with the Federal Government and the Bank of Agriculture to expand access to agricultural financing for smallholder farmers.
The initiative, launched in Zaria, Kaduna under the Renewed Hope Smallholder Support and Value Chain Fund, aims to increase Nigeria’s annual grain production from 11 million to 25 million metric tonnes.
Speaking at the event, Group Managing Director of Arzikin Noma Africa, Adeoluwa Michael Adeshola, said government policies combined with private sector implementation would strengthen food production and reduce inflation.
Minister of Agriculture and Food Security, Abubakar Kyari who highlighted the Government’s long term target of reaching five million farmers with subsidised fertilisers, certified seeds and agrochemicals through single-digit interest loans said this will expand domestic food production.
Managing Director of the Bank of Agriculture, Ayodeji Sotinrin said the programme would operate under a nine per cent lending facility, with plans to introduce irrigation financing to support year-round farming.
