NADF, Partners Flag-off Financing Initiative for 12,000 Women Farmers in Oyo 

James Emejo in Abuja 

The National Agricultural Development Fund (NADF) has officially flagged-off its blended on-lending financing for women farmers in Oyo State. 

The initiative, supported by Mastercard Foundation and IDH, aimed to empower 12,000 young women in cassava cultivation in its first phase, with plans to reach 45,000 women by the end of the programme.

The Executive Secretary, NADF, Mohammed Ibrahim, said, This collaboration seeks to support the working capital needs of Psaltry International Company Limited through the cultivation of cassava by a dedicated network of farmers, while complementing Mastercard Foundations financing of the farmers input requirements.

Represented by NADF General Manager, Corporate Services, Mr. Abiodun Sosanya, he stressed that the programme ensures timely access to quality inputs, guarantees markets through backward integration, reduces production costs through subsidised lending, and promotes value addition of locally grown cassava.

Ibrahim stated that the initiative also aligned with the food security and sovereignty drive under the Renewed Hope agenda of President Bola Tinubus administration, demonstrating how structured agricultural finance can support national priorities. 

Under the NADF Blended Finance On-Lending Programme (NADFBFP), NADF is contributing N798 million, representing 51 per cent of the total funding, while the Mastercard Foundation provides 49 per cent. 

The financing will cover the cultivation of 2,400 hectares of cassava, targeting direct engagement of 12,000 women farmers through Psaltrys structured network of outgrowers and ingrowers. Also, FCMB is the participating financial institution to facilitate smooth fund disbursement.

He noted that by promoting local cassava production, processing, and value addition, the partnership strengthens domestic food supply, reduces reliance on imports, and empowers rural women economically.

On her part, Managing Director/Chief Executive, FCMB, Yemisi Edun, described the partnership as transformative. 

Represented by the Executive Director, Wholesale Banking, Obaro Odeghe, she said, This initiative is funding the cultivation of 2,400 hectares of cassava under the NADFMastercard FoundationFCMB collaboration. It enables Psaltry to scale up cassava and sorbitol production while addressing Nigerias agricultural finance gap. NADFs support demonstrates the power of purposeful public-private partnerships in repositioning agriculture as a key economic driver.

Founder/Chief Executive, Psaltry International, Oluyemisi Iranloye, said, As we celebrate 20 years of Psaltry, this collaboration will impact 15,000 women initially and 45,000 by the end. From cassava we produce food grain, starch, high-quality cassava flour, sorbitol and glucose for Nigerian companies. 

It provides import substitution, strengthens local supply chains, and supports youth, internally displaced persons and people with disabilities. Todays milestone reaffirms our commitment to inclusive growth and sustainable agriculture.

Essentially, the deal illustrates NADFs strategy of catalysing blended finance to de-risk agricultural value chains, provide structured financing for smallholder farmers, and propagate raw material supply for agro-industries. 

By combining public sector backing, private banking guarantees, and international foundation support, the programme sets a model for scalable investment in Nigerias agricultural sector, enhancing both productivity and economic inclusion.

Over the years, Master Card Foundation in collaboration with stakeholders in the agricultural sectors have been empowering Nigerian farmers, especially women, youth and persons with disabilities to enhance their production.