The Federal Government has pledged to disburse the planned ₦300,000 interest-free loans for smallholder farmers and targeted credit support for traders swiftly and with full transparency.
Minister of State for Finance, Dr. Doris Uzoka-Anite, announced this on Saturday, February 14, 2026, via her official X account. She emphasized that the Ministry of Finance is committed to ensuring the funds reach genuine beneficiaries without unnecessary delays.
“Our priority at the Ministry of Finance is ensuring that these ₦300,000 interest-free loans for smallholder farmers and targeted credit for our traders are disbursed with absolute transparency and speed,” she stated.
The minister explained that the initiative is aimed at empowering those at the base of the economic pyramid — smallholder farmers and petty traders — who make up a significant portion of Nigeria’s working population. Supporting them, she said, will drive grassroots economic growth and translate the Renewed Hope agenda into tangible benefits for ordinary citizens.
“By empowering the base of our economic pyramid, we are fueling the engine of Nigeria’s growth and moving the #RenewedHope agenda from policy to pocket,” she added.
To ensure smooth and effective rollout, Dr. Uzoka-Anite held discussions with Hon. Hamza Ibrahim Baba, National Programme Manager of the Government Enterprise and Empowerment Programme (GEEP). The meeting centred on the implementation of GEEP 3.0 and the FarmerMoni Dry and Wet Season schemes.
GEEP, operating under the National Social Investment Programme Agency, provides interest-free, collateral-free financial support to grassroots entrepreneurs. The latest phase, GEEP 3.0, offers six-month loans starting from ₦10,000 to petty traders, artisans, and market women who often operate with very small capital (as low as ₦2,000–₦5,000). Even modest amounts can significantly boost their stock and daily earnings.
The FarmerMoni Dry and Wet Season Programme targets smallholder farmers during both major planting seasons to boost food production, enhance food security, create rural jobs, and reduce poverty.
In the current phase, the programme aims to reach more than 20,000 farmers nationwide, with approximately 28 farmers expected to benefit per local government area across all 774 LGAs in the country.
Hon. Hamza Ibrahim Baba explained that the FarmerMoni online portal will soon open for registration. Eligible applicants must be:
– Nigerian citizens aged 18 years and above
– Actively engaged in farming
– Owners or renters of farmland
– Holders of a bank account and valid means of identification
– Members of a recognised farming cooperative or association in their local government area
Loan amounts will vary based on the type of farming activity and specific needs (e.g., seeds and fertilisers for crop farmers, feed and veterinary care for livestock farmers).
Implementation will involve state programme managers, enumerators for data collection and verification, partner banks, fintech recovery agents, and farmer associations across the 36 states and the Federal Capital Territory.
Baba noted that funds for farmers are targeted for disbursement before the end of March 2026 to align with the wet season planting period, as timely access is critical to maximising harvests.
Addressing concerns about potential political interference, he assured that registration and verification processes are fully digitised to minimise human manipulation. Collaboration with legitimate farmer associations and rigorous data checks will ensure only genuine, vulnerable smallholder farmers benefit.
Future phases of the programme will include TraderMoni and MarketMoni, which will extend similar support to artisans and petty traders nationwide.
The government reiterated that these interest-free, collateral-free loans are designed to remove traditional barriers to credit and provide real economic relief to those at the grassroots level.
