FarmerMoni: FG Opens Portal for 22,000 Nigerians to Apply for N300,000 Interest-Free Loans
- Nigerian government has launched FarmerMoni, providing interest-free loans to 22,000 farmers for improved agricultural productivity
- Eligible farmers can secure up to N300,000 without collateral, promoting economic stability in rural areas
- The Renewed Hope GEEP 3.0 aims to enhance food security and reduce poverty through financial inclusion and support for farmers
Pascal Oparada is a journalist with Legit.ng, covering technology, energy, stocks, investment, and the economy for over a decade.
The federal government has opened a new application portal for 22,000 Nigerian farmers to access interest-free loans of up to N300,000 under the FarmerMoni Dry and Wet Season Programme.
The initiative, implemented through the National Social Investment Programme Agency (NSIPA), is part of the Renewed Hope Government Enterprise and Empowerment Programme (GEEP 3.0).
Source: Twitter
Officials say the scheme is designed to boost agricultural productivity, improve rural incomes and strengthen food security across the country.
Speaking at the inauguration of the Renewed Hope GEEP 3.0 and the FarmerMoni Technical Working Group in Abuja on Wednesday, February 10, 2026, Hamza Baba, National Programme Manager of GEEP under NSIPA, confirmed that the portal is now open for eligible farmers to register.
He described the loan as both interest-free and collateral-free, noting that the programme specifically targets vulnerable and low-income farmers at the grassroots.
N300,000 per farmer, No collateral required
According to Baba, each successful applicant will receive up to N300,000. He explained that the loan amount was determined based on the economic realities of various farming activities.
He stressed that the scheme is not for new entrants into agriculture. Applicants must already be actively engaged in farming.
To qualify, farmers must:
- Be Nigerian citizens aged 18 years and above
- Own or rent farmland
- Be actively involved in farming
- Possess a valid bank account
- Have a National Identification Number (NIN)
- Provide municipal identification
- Belong to a registered farming cooperative or association within their local government
The programme will cover all 774 local government areas, with an average of about 28 farmers expected to benefit per local council in this phase.
State programme managers, enumerators, partner banks, fintech recovery agents, Agricultural Development Projects and farmer associations will collaborate to ensure effective implementation across the 36 states and the Federal Capital Territory.
Part of Renewed Hope GEEP 3.0 agenda
The FarmerMoni scheme is one of the pillars of the broader Renewed Hope GEEP 3.0 framework.
While FarmerMoni focuses on agriculture, TraderMoni, under the same programme, is designed to support artisans, petty traders and other small-scale entrepreneurs.
Minister of Humanitarian Affairs and Poverty Reduction, Dr Bernard Doro, said the launch represents more than a policy announcement. According to him, it reflects the administration’s determination to translate its economic vision into tangible benefits for citizens.
He said the Renewed Hope Agenda is built on inclusion, resilience and shared prosperity, with a focus on expanding opportunities for vulnerable Nigerians.
Driving food security and poverty reduction
Doro described the FarmerMoni Dry and Wet Season Programme as a strategic intervention aimed at supporting farmers across both planting cycles.
By addressing seasonal funding gaps, the government hopes to enhance yields and reduce vulnerabilities tied to farming seasons.
He emphasised that agriculture remains central to Nigeria’s economy and rural livelihoods. Supporting farmers, he said, is both an economic necessity and a moral obligation.
Source: Facebook
Through affordable financing and structured support, the government aims to strengthen agricultural productivity, create jobs and provide a sustainable pathway out of poverty for rural communities.
Ultimately, the FarmerMoni and GEEP 3.0 programmes are structured around one core objective: reducing poverty through empowerment and expanding financial inclusion for millions operating outside the formal financial system.
How to apply for FG’s ₦500,000 YEIDEP grant
Legit.ng earlier reported that the federal government reopened the application portal for Batch B of the Youth Economic Intervention and De-Radicalisation Programme (YEIDEP), offering young Nigerians grants ranging from ₦50,000 to ₦500,000, alongside training and mentorship.
The programme targets youth with viable business ideas who need capital and support to start or scale.
Proofreading by Kola Muhammed, copy editor at Legit.ng.
Source: Legit.ng
