The Federal Government has launched a ₦300,000 interest-free and collateral-free loan scheme targeting at least 22,000 farmers across Nigeria’s 774 local government areas, in a move aimed at boosting food production and reducing poverty.
The initiative is being rolled out under the FarmerMoni Dry and Wet Season Programme, implemented by the National Social Investment Programme Agency as part of the Renewed Hope Government Enterprise and Empowerment Programme 3.0.
Portal Now Open for Applications
Speaking at the inauguration of Renewed Hope GEEP 3.0 and the FarmerMoni Technical Working Group in Abuja on Wednesday, the National Programme Manager of GEEP, Mr. Hamza Baba, announced that the registration portal is now open.
“From today, our portal is open for eligible farmers to register and access these loans. They are interest-free and collateral-free,” Baba said.
Each beneficiary will be eligible for up to ₦300,000, structured around specific agricultural production cycles. The scheme is designed for vulnerable and grassroots farmers who are already engaged in farming activities, rather than new entrants into the sector.
Eligibility Requirements
To qualify, applicants must:
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Be Nigerian citizens aged 18 and above
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Own or rent farmland
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Possess a valid bank account and National Identification Number
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Have municipal identification
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Belong to a registered farming cooperative or association within their local government area
Baba said the programme will be implemented nationwide, including the Federal Capital Territory, with state programme managers working alongside enumerators, banks, fintech recovery agents, Agricultural Development Projects and farmer associations to ensure effective delivery.
“We are targeting more than 22,000 farmers in this phase, averaging about 28 farmers per local government,” he stated.
While FarmerMoni focuses on agricultural support, TraderMoni under GEEP 3.0 will provide financial assistance to artisans, petty traders and small-scale entrepreneurs in the informal sector.
Government’s Poverty Reduction Drive
Unveiling the broader Renewed Hope GEEP 3.0 initiative, the Minister of Humanitarian Affairs and Poverty Reduction, Dr. Bernard Doro, described the programme as a practical step toward translating President Bola Tinubu’s Renewed Hope Agenda into measurable outcomes.
“The Renewed Hope Agenda is anchored on ensuring that economic growth is broad-based and people-centred. Renewed Hope GEEP 3.0 is a practical expression of that commitment,” the minister said.
He explained that the initiative aims to improve financial inclusion by providing micro and small-scale entrepreneurs with access to affordable funding to expand businesses, create employment and stabilise livelihoods.
“This is financial inclusion made real. It is about bringing those previously excluded from formal financial systems into the economic mainstream,” he added.
Boosting Food Security
On the FarmerMoni component, the minister noted that the programme is structured to support farmers during both dry and wet planting seasons, reduce seasonal vulnerabilities and improve productivity.
“Our farmers remain the backbone of the Nigerian economy. Supporting them is not only an economic necessity but a moral obligation,” he said.
He emphasised that strengthening agricultural resilience is key to enhancing food security, promoting rural development and lifting communities out of poverty.
According to the ministry, both GEEP 3.0 and FarmerMoni are built around a central objective: poverty reduction through economic empowerment.
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