The Federal Government has pledged to provide single digit-loans to farmers as part of its intervention programmes to protect local producers and reduce production costs.
Vice-President Kashim Shettima made the pledge at a steering committee meeting of the Presidential Food Systems Coordinating Unit (PFSCU), held at the Presidential, Villa Abuja on Friday.
Shettima reaffirmed the government’s commitment to supporting local farmers through targeted interventions.
According to him, the economic realities facing local farmers demand strategic government intervention to reduce production costs and support local farmers.
He said the President Bola Tinubu’s administration is determined to revitalise stalled high-impact agricultural projects to encourage farmers.
In realising that, Shettima said the Presidential Food Systems Coordinating Unit has metamorphosed into an incubator beyond being an advisory body.
He said the country would take a cue from the Asian Tigers in transforming its key sectors including agriculture.
“I have read the work of Joe Studwell on How Asia works, and I am reading it again.
“I read how South Korea, a former poor nation, was able to become the world’s number one steel producer.
” They gave hefty discounts and single-digit loans to the Daewoos, LGs, and Samsungs, who are now global leaders even in the semi-conductor business. They were able to develop their economy,” he said.
The Vice-President directed Govs. Umar Namadi of Jigawa, Francis Nwifuru of Ebonyi, to engage with a Brazilian delegation on how their states can transform the food production sector.
“As two of the major food producing states in the federation, I urged the governors to interface with them and see what we can do,” he said.
Earlier, Namadi acknowledged the PFSCU’s critical role in transforming Nigeria’s agriculture and food production.
According to him, the committee is important and has the potential of improving food security.
On his part, Nwifuru called for clearly defined priorities for farmers and adequate preparations ahead of every farming season.
Also, Marion Moon, the Technical Assistant to the President on Agriculture (Office of the Vice President) reaffirmed the unit’s commitment to ensuring affordable food for all citizens.
Moon, who is also the coordinator of PFSCU, noted that incentivising the sector will increase production and maintain food stability.