LASG kicks off interest-free loans for farmers

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The Lagos State Government has started enumerating farmers for the FG’s FarmerMoni scheme, which provides interest-free, collateral-free loans to farmers. Read More:…

The Lagos State Government has flagged off the enumeration of farmers for the Federal Government’s FarmerMoni scheme, which provides small-scale farmers interest-free loans without collateral to expand their agricultural businesses.

According to a statement sighted by The PUNCH on Wednesday, the initiative, launched through the state Ministry of Wealth Creation and Employment in collaboration with the National Social Investment Programme Agency, is aimed at improving farmers’ access to finance, boosting agricultural productivity and strengthening food security.

The National Programme Manager of the Government Enterprise and Empowerment Programme, Hamza Baba, disclosed that the Federal Government had provided funds to support farmers, particularly those in the poorest and most vulnerable groups, to expand their existing businesses.

Baba, who spoke at the flag-off ceremony, said the support, which required no collateral, was available to eligible beneficiaries.

He commended Lagos State for its agricultural development initiatives, particularly the introduction of Eko Rice.

“I had previously thought farming was predominantly practised in Northern Nigeria until I visited Ikorodu, where I witnessed the level of agricultural activities taking place,” he said.

The Commissioner for Wealth Creation and Employment, Akinyemi Ajigbotafe, represented by the Director of Administration and Human Resources, Kudirat Bello, said the initiative was designed to address farmers’ limited access to finance and other essential resources.

He described agriculture as a major driver of economic development, employment and wealth creation, adding that improving farmers’ productivity was critical to strengthening their livelihoods and ensuring food security.

The Permanent Secretary of the ministry, Lolade Aina, represented by the Director of Partnership, Oluyemisi Adeniyi, commended Governor Babajide Sanwo-Olu for prioritising farmers’ empowerment.

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