FG targets 1.2m farmers with 2,000 tractors to boost food production

The Federal Government, through the Bank of Agriculture, has unveiled a series of interventions aimed at boosting food production and supporting more than 1.2 million farmers across the country during the current wet season. The Managing Director of the BOA, Ayodele Sotinrin, disclosed this in a statement issued by the bank’s Team Lead, Corporate Communications Department, Ruth Didam, on Tuesday. Sotinrin said the interventions formed part of President Bola Tinubu’s agricultural agenda to strengthen food security, improve farmers’ incomes and expand financial inclusion. “The wide-ranging initiatives reflect the Federal Government’s commitment to supporting farmers whose labour ensures Nigerians do not go hungry,” Sotinrin said. He said mechanisation remained a major focus of the programme, noting that Nigeria currently has a tractor density of 0.27 per 100 square kilometres. He explained that a key pillar of the intervention was the introduction of a Guaranteed Minimum Price mechanism to address the long-standing gap between production costs and farm-gate prices, adding that the food stabilisation initiatives would be driven as a massive national campaign, with the entire country sensitised through all media platforms. “Under the arrangement, the government will set a price floor for staple crops such as maize, rice, soybeans and cassava. “The bank will purchase excess produce directly from farmers to prevent post-harvest losses and store the commodities in the nation’s 33 silos for future price stabilisation,” he stated. Related News Food prices jump in April 2026 — NBS FG unveils agribusiness fund to empower 6m youths Food imports drop by 7% – CBN data The BOA boss also noted that the bank had shifted from direct micro-credit to a digital ecosystem driven by farmer aggregation companies, explaining that the “bank now leverages digital platforms and identity verification tools, including BVN and NIN, to open bank accounts for farmers within minutes, ensuring financial support reaches genuine producers rather than middlemen.” he said the bank had deployed 2,000 tractors sourced from Belarus to service providers with the capacity to mechanise at least 600 hectares each. “Mechanisation remains a major focus and Nigeria has a low tractor density of 0.27 per 100 square kilometres. “To address this, the bank has deployed 2,000 high-durability tractors sourced from Belarus to service providers who must demonstrate the capacity to mechanise at least 600 hectares each. “The initiative is expected to support more than 1.2 million farmers during the current wet se