FG and Bank of Agriculture Distribute 2,000 Tractors

The Federal Government, in collaboration with the Bank of Agriculture, is distributing 2,000 tractors to mechanized farmers as part of the National Agricultural Mechanization Program (NAMP). This initiative, confirmed by Sen.

Abubakar Kyari, the Minister of Agriculture and Food Security, and Mr. Ayodeji Sontinrin, the Managing Director of the Bank of Agriculture, aims to boost agricultural productivity and strengthen Nigeria's food security.

The program, which supports Heifer International and Heifer Nigeria, includes a special financing model to ensure long-term economic impact, particularly for youth and women-led enterprises. Applications for the tractor distribution are open until November 10, 2025, with a leasing model requiring a 25% down payment and 15% interest over three to five years.

The initiative also includes 9,000 agricultural implements to help expand mechanized farming, generating additional income for participants. The first batch of tractors is expected to arrive in February 2025, marking a significant step in advancing mechanized agriculture in Nigeria.