FG Begins Talks With Firm To Expand Farmers’ Access To Finance

The federal government has initiated discussions with Springfield Agro Limited to develop structured, long-term financing options aimed at accelerating agricultural mechanisation across 774 local government areas.

The move, unveiled at the commissioning of the Afcott Grains sesame and grains processing facility in Kawakin Tofa, Kano State, is designed to ease farmers’ access to tractors and modern equipment while reducing upfront costs.

Representing Vice President, Kashim Shettima at the event, minister of agriculture and food security, Abubakar Kyari, said the administration is focused on building an integrated agricultural system that connects production, processing and financing.

According to a statement issued by the ministry’s head of information department, Ezeaja Ikemefuna, He noted that the establishment of the processing plant strengthens domestic value chains, boosts export potential, raises farmer incomes and creates jobs.

The government also highlighted the strategic importance of Kano as a historic commercial and agricultural hub, noting that continued investments in the state reinforce its role in Nigeria’s agro-industrial transformation.

He said, “following the submission of a proposal for structured, long-term financing to support mechanization programmes at both federal and state levels, the Presidency is currently engaging in constructive dialogue with the company’s management.

A clear pathway toward aligning policy with credible industrial and financing initiatives critical to that goal.

Production must be matched with processing. Mechanization must be matched with financing. Policy must be matched with private-sector confidence and long-term investment”.

Chanrai Group, is expected to produce 40,000 tonnes of sesame seeds and 25,000 tonnes of other grains annually, while generating over 500 direct and indirect jobs.

Kano state governor, Abba Kabir-Yusuf said the investment reflects growing investor confidence, supported by the state’s commitment to mechanisation, irrigation and extension services.

He added that Kano remains a key destination for agribusiness investments in West Africa.