FG Mobilises ₦250bn to Support Wet Season Farming

News in brief:

-Nigeria's FG has secured ₦250 billion to finance one million smallholder farmers cultivating one hectare each during the 2026 wet season.

-A parallel mechanisation programme will deploy 2,000 tractors and over 9,000 implements nationwide to scale productivity and strengthen food security.

The Federal Government has recently mobilised ₦250 billion to support one million smallholder farmers ahead of the 2026 wet season, as part of a broader strategy to boost food production, strengthen agricultural productivity and enhance national food security.

Minister of Agriculture and Food Security, Abubakar Kyari, disclosed this during the official flag-off of the Renewed Hope National Agricultural Mechanisation Programme in Abuja. The event also marked the phased deployment of 2,000 tractors and more than 9,000 agricultural implements across the country.

Kyari said the funding, implemented in partnership with state governments, will enable one million farmers to cultivate an average of one hectare each during the 2026 farming season. The intervention is designed to expand cultivated land, improve yields and reduce the financial constraints that often limit smallholder farmers.

Catalytic Seed Fund to Unlock Agro-Industrial Investment

The minister explained that the initiative forms part of a comprehensive agricultural financing ecosystem driven by the administration of Bola Tinubu to increase food supply, create jobs and strengthen economic resilience.

He noted that the ₦250 billion wet-season support is backed by a ₦50 billion catalytic seed fund with the Bank of Industry (BoI), aimed at unlocking agro-industrial investments at scale and reinforcing the entire agricultural value chain.

Mechanisation Drive Targets 1.5 Million Hectares

Beyond financing, the government is scaling up mechanisation to support targeted farmers. Under the Renewed Hope National Agricultural Mechanisation Programme, 2,000 heavy-duty tractors will be deployed in phases through Mechanisation Service Providers operating under a lease-to-own model.

Kyari said each tractor can service about 600 hectares annually, a capacity expected to impact more than 1.2 million farmers across over 1.5 million hectares nationwide. He added that many of the service providers are youth- and women-led enterprises, creating fresh business opportunities and employment in rural communities.

To ensure sustainability and operational efficiency, each tractor will come with two years of free maintenance support, while 36 mobile service trucks will provide rapid technical assistance.

The government is also establishing seven mega mechanisation service centres and facilitating the development of a local tractor assembly plant with a projected annual production capacity of between 2,000 and 4,000 units.

The combined financing and mechanisation strategy underscores the administration’s push to move beyond short-term interventions towards a structured expansion of agricultural output and long-term food sovereignty.