NADF rallies FMN, NOVA Bank for N1.5bn agric fund on plantation

The National Agricultural Development Fund (NADF), in partnership with Flour Mills of Nigeria (FMN) and NOVA Merchant Bank, has launched a N1.5 billion pilot initiative to cultivate 1,500 hectares of farmland.

The initiative, targeting 1,500 smallholder farmers, was unveiled at a Press Conference in Abuja, marking the maiden disbursement for the NADF’s on-lending facility, under the National Agricultural Development Programme (NADP-1).

The scheme is designed to strengthen agricultural value chains, improve farmer productivity, and align with the Federal Government’s Renewed Hope Food Security and Market Priority Agenda, championed by President Bola Tinubu.

Speaking at the launch, Mohammed Ibrahim, Executive Secretary of NADF, described the initiative as a model for inclusive agricultural financing.

“This programme demonstrates that smallholder farmers can be engaged in a profitable and sustainable way. Through aggregation, value chain partnerships, and strategic financing, we can transform agriculture into a viable engine for national development,” he said.

Sadiq Usman, Managing Director of FMN Agro, emphasised the importance of improving yields and building resilient supply chains.

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“This facility supports our core mission of transforming farmer profitability. A factory without a farm is scrap metal, and a farm without a factory is just wheat,” Usman said, citing maize cultivation in Kaduna State as the initial focus of the scheme.

“Kaduna produces 20% of Nigeria’s maize and is home to highly productive farmers. It’s a perfect ground for demonstrating how better seeds, nutrition, and agronomy practices can boost yields”, he added.

Representing NOVA Bank, Uzoma Ayonmike, Group Head of Corporate Banking, expressed optimism about the venture. “Agriculture is a cornerstone of national growth. We are proud to be the first financial institution to disburse under the NADF pilot phase.

“This partnership is not just a transaction. It is a step toward food security, economic inclusion, and sustainable national progress”, she noted.

Esosa Igbineweka, Head of Value Chain Banking at NOVA, detailed the bank’s due diligence process in selecting FMN Agro as the programme’s implementing partner.

“NADF cannot lend directly to farmers, so we ensure any intermediary meets strict risk and performance criteria. FMN Agro has proven capacity and a strong record in engaging smallholder farmers,” he said.

Ruth Tene Natsa

Ruth Tene, Assistant Editor, Agric/Solid Minerals/INEC Ruth Tene is an award-winning journalist with over 15 years experience in developmental reporting across several newsrooms, as a reporter, editor and other managerial roles. She holds a Postgraduate Diploma in Journalism from the University of Maiduguri among several other certifications She has attended several trainings and certifications both locally and internationally and has been recognized for her impactful work in humanitarian reporting, receiving the Gold Award for Humanitarian Services from the Amazing Grace Foundation. She is also a recipient of the Home Alliance Fellowship, reflecting her commitment to fostering a more humane, safer and more sustainable planet. An active member of professional journalism bodies, Ruth is affiliated with the Nigeria Union of Journalists (NUJ), the National Association of Women Journalists (NAWOJ), and the Agricultural Correspondents Association of Nigeria (ACAN), where she continues to advocate for excellence, ethical reporting, and development-focused journalism.