The Bank of Agriculture (BOA), in partnership with WACOT Limited, has commenced the distribution of farm inputs to smallholder farmers in Jigawa State under the Federal Government’s Renewed Hope Smallholder Farmer Support and Value Chain Programme, with a pledge to enhance food security, increase crop yields and improve farmers’ incomes.

Speaking at the flag-off ceremony in Jigawa, the Executive Director, Operations and Technology of the Bank of Agriculture, Mr Tosin Salami, who represented the Managing Director/Chief Executive Officer of the bank, Mr Ayo Sotinrin, described the initiative as a new model for agricultural financing driven by collaboration among government, financial institutions and the private sector.

He said the programme goes beyond the distribution of farm inputs, noting that it integrates financing, extension services, agronomic support and market access to guarantee improved productivity and profitability for farmers.

According to him, the initiative is being implemented in partnership with WACOT Limited under the Renewed Hope Smallholder Support and Value Chain Programme to ensure that beneficiaries receive quality seeds, fertilisers, agrochemicals, technical support and guaranteed off-take opportunities.

Salami disclosed that nationwide, the intervention is expected to support over two million smallholder farmers through the supply of more than 10 million bags of fertiliser, improved seeds and structured financing across over 20 states, with more than one-third of the beneficiaries being women.

He explained that about 200,000 farmers would benefit during the current farming season, while the target is expected to rise to 500,000 by the dry season.

“Our goal is not only to provide inputs but also to double and even triple farmers’ yields. Many farmers currently harvest between one and one-and-a-half tonnes per hectare. With hybrid seeds, proper agronomic support and quality inputs, we expect yields to increase to between three and five tonnes per hectare,” he said.

The BOA executive added that the bank also plans to expand irrigation support to encourage year-round farming, enabling farmers to cultivate up to three or four times annually instead of relying on a single rainy season.

He said each beneficiary would receive a package comprising improved seeds, two to three bags of fertiliser and about 20 litres of agrochemicals.

Salami clarified that the intervention is not a grant but a loan facility offered at a single-digit interest rate of nine per cent, made possible through Federal Government intervention funds.

According to him, each input package is valued at about N500,000, while farmers are projected to earn about N1.5 million at the end of the farming season.

He explained that the loans have a repayment period of nine months and are disbursed through accredited farmer aggregation companies such as WACOT Limited rather than directly to individual farmers.

He urged beneficiaries to repay the loans promptly, stressing that repayment would sustain the revolving fund and enable more farmers to benefit in subsequent farming seasons.

Salami commended the administration of Governor Umar Namadi for prioritising agricultural development through investments in extension services, irrigation and climate-smart agriculture, saying the bank was committed to supporting the state’s agricultural transformation agenda.

He also lauded President Bola Ahmed Tinubu’s Renewed Hope Agenda for placing food security and agricultural financing at the centre of national economic policy.

In his remarks, the Managing Director of WACOT Limited, Mr Naveen Chaurasia, said the company remained committed to supporting farmers through quality farm inputs, improved agronomic practices and structured out-grower schemes covering sesame, rice and soybean production.

He noted that poor-quality inputs and inadequate farming practices had remained major challenges confronting agricultural productivity.

“Our objective is to provide quality inputs and ensure farmers use them correctly. We believe that with improved farming practices and proper application of inputs, farmers’ yields and incomes will increase significantly,” he said.

ALSO READ: Tinubu’s spokesman shares EFCC statement defending Osun account freezing

Chaurasia advised beneficiaries to avoid compromising on the quality of farm inputs and to embrace modern agricultural practices to maximise productivity.

Also speaking, a representative of the Gumel Emirate Council, Alhaji Musa Ayuba, described the programme as a major boost to the predominantly agrarian communities in the emirate.

He said Gumel had a long history of farming, particularly sesame production, and expressed confidence that the intervention would strengthen the local economy and enhance Nigeria’s foreign exchange earnings through increased sesame exports.

The traditional council appealed to the Bank of Agriculture to sustain the provision of affordable credit and consider expanding agricultural insurance to cushion farmers against losses arising from natural disasters.

The council also pledged to mobilise farmers across the emirate to embrace the programme, repay the loans and consolidate Gumel’s position as one of Nigeria’s leading sesame-producing areas.