Federal Government Launches FarmerMoni Portal for 22,000 Farmers to Access N300,000 Interest-Free Loans
The Federal Government of Nigeria has officially opened the application portal for the FarmerMoni Dry and Wet Season Programme, providing a significant opportunity for 22,000 farmers across the country to access interest-free loans of up to N300,000. This initiative is part of the broader Renewed Hope Government Enterprise and Empowerment Programme (GEEP 3.0), implemented through the National Social Investment Programme Agency (NSIPA).
Program Details and Eligibility Requirements
Hamza Baba, the National Programme Manager of GEEP under NSIPA, confirmed the portal opening during the inauguration of the Renewed Hope GEEP 3.0 and the FarmerMoni Technical Working Group in Abuja. He emphasized that the loans are both interest-free and collateral-free, specifically targeting vulnerable and low-income farmers at the grassroots level.
Each successful applicant will receive up to N300,000, with the loan amount determined based on the economic realities of various farming activities. Importantly, the scheme is not designed for new entrants into agriculture; applicants must already be actively engaged in farming.
To qualify for the FarmerMoni loan, farmers must meet the following requirements:
- Be Nigerian citizens aged 18 years and above
- Own or rent farmland
- Be actively involved in farming activities
- Possess a valid bank account
- Have a National Identification Number (NIN)
- Provide municipal identification
- Belong to a registered farming cooperative or association within their local government area
National Coverage and Implementation Strategy
The programme will cover all 774 local government areas in Nigeria, with an average of approximately 28 farmers expected to benefit per local council in this initial phase. A comprehensive implementation strategy involves collaboration between state programme managers, enumerators, partner banks, fintech recovery agents, Agricultural Development Projects, and farmer associations across all 36 states and the Federal Capital Territory.
Minister of Humanitarian Affairs and Poverty Reduction, Dr. Bernard Doro, described the launch as more than just a policy announcement, stating that it reflects the administration's determination to translate its economic vision into tangible benefits for citizens. He emphasized that the Renewed Hope Agenda is built on principles of inclusion, resilience, and shared prosperity, with a specific focus on expanding opportunities for vulnerable Nigerians.
Strategic Agricultural Intervention
The FarmerMoni Dry and Wet Season Programme represents a strategic intervention aimed at supporting farmers across both planting cycles. By addressing seasonal funding gaps that often hinder agricultural productivity, the government hopes to enhance crop yields and reduce vulnerabilities tied to farming seasons.
Dr. Doro stressed that agriculture remains central to Nigeria's economy and rural livelihoods, making farmer support both an economic necessity and a moral obligation. Through affordable financing and structured support mechanisms, the government aims to strengthen agricultural productivity, create sustainable employment opportunities, and provide a viable pathway out of poverty for rural communities.
Broader Economic Context
The FarmerMoni scheme operates as one of the key pillars within the broader Renewed Hope GEEP 3.0 framework. While FarmerMoni specifically focuses on agricultural support, the TraderMoni component of the same programme is designed to assist artisans, petty traders, and other small-scale entrepreneurs.
Ultimately, both the FarmerMoni and GEEP 3.0 programmes are structured around a core objective: reducing poverty through empowerment and expanding financial inclusion for millions of Nigerians operating outside the formal financial system. This initiative represents a significant step toward enhancing food security, improving rural incomes, and promoting economic stability across the nation's agricultural sector.
