By Tosin Opeyemi 
The Federal Government of Nigeria has revived its FarmerMoni initiative, an agricultural interest-free loan scheme for small-scale farmers across Nigeria.
Resuscitation at state level
Findings by InfomediaNG show that NSIPA is working with various ministries at the state level, taking the biometric details of applicants for the disbursement of interest-free loans of N300,000 each to small-scale farmers across Nigeria.
In Lagos, for instance, NSIPA is working with the Ministry of Wealth Creation and Employment to capture applicants’ details.
FarmerMoni focuses on smallholder farmers and agricultural cooperatives, smallholder farming, agricultural production, rural enterprises and livelihoods.
According to the National Programme Manager of GEEP, Hamza Baba, during his visit to Ikorodu, Lagos, the government has set aside funds to help farmers, particularly poor and vulnerable people, expand their existing businesses.
How to apply
Farmers will be registered through a designated ministry at the state level. The application and submission of interest are manual, and no link has been provided for online registration.
Interest on FarmerMoni Loan: 0% interest rate, zero collateral, and a built-in moratorium period before repayments begin.
Application process: Applications and beneficiary data capture are coordinated through official state-level GEEP enumerations and cooperatives.
The FarmerMoni scheme is one of the initiatives under the Government Enterprise and Empowerment Programme (GEEP), one of the programmes under the National Social Investment Programme Agency (NSIPA).
The Federal Ministry of Humanitarian Affairs, which was created on August 21, 2019, manages all NSIPs, including TraderMoni, MarketMoni and N-Power. The programmes were created during the administration of President Muhammadu Buhari.
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