USAID to provide farmers in North-East Nigeria with financial inclusion

By Michael V. Bolgent

Administrator

Posted: July 3, 2022 at 7:41 AM, Updated: July 5, 2022 at 5:09 PM

farmers

Under its “Feed the Future” rural resilience activity, the United States Agency for International Development (USAID) is developing strategies for the financial inclusion of small-holder farmers in North-East Nigeria.

Ndubuisi Anyanwu, Country Director of Mercy Corps Nigeria, said that USAID was already collaborating with financial institutions to provide effective and efficient mechanisms that would improve access to affordable financial products and services for small-holder farmers in Nigeria. She was speaking at the Access to Finance Dialogue in Abuja, the capital of the country.

Nearly 200 million Nigerians rely heavily on smallholder farmers for their food security.

Despite their significance, most farmers find it difficult to save money and invest in new technologies that will increase production, reduce risks, and develop shock resistance.

Thus, the focus of this Abuja discourse is on the necessity of ensuring that small-holder farmers in North-Eastern communities that are vulnerable to violence can access and use reasonable formal financial services, often known as financial inclusion.

The Feed the Future Nigeria Rural Resilience Activity, which is carried out by Mercy Corps in partnership with the International Fertilizer Development Center, IFDC, and Save the Children, is hosting the Access to Finance Dialogue, a one-day round table discussion.

“Financial Inclusion in North-East Nigeria: Do Disruptive Technologies Hold the Promise?” is the event’s theme.

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