The Federal Government has announced that no fewer than 22,000 farmers across Nigeria will benefit from interest-free and collateral-free loans under the FarmerMoni Dry and Wet Season Programme, an initiative of the National Social Investment Programme Agency (NSIPA).
The programme is part of the Renewed Hope Government Enterprise and Empowerment Programme (GEEP 3.0) aimed at improving agricultural productivity, boosting food security, and reducing poverty nationwide.
FarmerMoni Loan Portal Opens for Registration
Speaking during the inauguration of the Renewed Hope GEEP 3.0 and the FarmerMoni Technical Working Group in Abuja, the National Programme Manager of GEEP under NSIPA, Mr. Hamza Baba, disclosed that eligible farmers can begin registration immediately.
According to Baba, each beneficiary will receive up to ₦300,000, carefully structured based on the economic output of specific farming activities.
“The portal is now open for eligible farmers to register and access these loans. They are completely interest-free and collateral-free,” he stated.
He explained that the initiative specifically targets vulnerable and low-income farmers at the grassroots level, reinforcing the government’s commitment to inclusive economic growth.
Eligibility Requirements for FarmerMoni Loan
To qualify for the FarmerMoni interest-free loan, applicants must:
Be a Nigerian citizen aged 18 years and above
Own or rent farmland
Already be actively engaged in farming (new entrants are not eligible)
Possess a bank account
Have a National Identification Number (NIN)
Provide valid municipal identification
Be a registered member of a farming cooperative or association within their local government area
Coverage Across 774 Local Governments
The programme will cover all 774 local government areas in Nigeria, with state programme managers collaborating with:
Agricultural Development Projects (ADPs)
Farmer associations
Financial institutions
FinTech recovery agents
Field enumerators
Baba revealed that approximately 28 farmers per local government are being targeted in this phase.
In addition to FarmerMoni, he noted that TraderMoni remains available to support artisans, petty traders, and small-scale entrepreneurs.
Renewed Hope GEEP 3.0: Driving Financial Inclusion
Unveiling the initiative, the Minister of Humanitarian Affairs and Poverty Reduction, Dr. Bernard Doro, described the programme as a major step toward translating President Bola Tinubu’s Renewed Hope Agenda into practical action.
According to the minister, the programme is anchored on:
Inclusion
Economic resilience
Shared prosperity
He emphasized that GEEP 3.0 provides affordable financial support to micro and small-scale entrepreneurs, fostering enterprise growth, job creation, and financial stability.
“This is financial inclusion made real. It brings those excluded from the formal financial system into the economic mainstream,” he said.
Strengthening Agricultural Productivity and Food Security
Dr. Doro highlighted that the FarmerMoni Dry and Wet Season Programme is designed to support farmers across both planting cycles, reducing seasonal vulnerabilities and improving yields.
He described Nigerian farmers as the backbone of the nation’s economy, stressing that supporting them is both an economic necessity and a moral obligation.
“By investing in their productivity and resilience, we are reinforcing agriculture as a sustainable pathway out of poverty and a driver of rural development,” he added.
