THE Federal Executive Council (FEC) has approved an Electronic Wallet containing N27 billion under an initiative which would enable rural farmers enjoy their 50 per cent subsidy on seed and fertiliser purchased, using their mobile telephone handsets.The Minister of Agriculture, Dr Akinwunmi Adesina, who briefed State House correspondents alongside his Information counterpart, Labaran Maku, after Wednesday’s FEC meeting presided over by Vice- President Namadi Sambo, said the programme was being achieved
through private agro-based companies in the country.
He stated that the electronic wallet initiative was part of the growth enhancement support system where the farmers would get allocation for seeds and fertilisers by their mobile phones without any intermediary.
According to him, “we found out that 75 per cent of farmers in the rural areas have phones and so we are moving into electronic wallet system.
“Here is how the system works, The farmers will get their alerts about the allocation for seeds and fertilisers, they will go to the agro dealer otherwise known as the input shop in their village and they will send that information to the agro dealer, The agro dealer, seeds and fertilisers suppliers are also on the electronic platform.
“The farmer is getting a subsidy of 50 per cent and the farmer will pay the balance of 50 per cent, then collect seeds and fertilisers and the transaction is completed. With this, no money has changed hands.
“We have already piloted this system in 12 states. So, this is not theory, this is what is actually on ground. We have done it in Nasarawa, Zamfara, Kogi and Taraba states in the first set, between February 5 and 9 this year.”
“I am happy to report to you that the success even without publicity is 70% of the farmers getting it. It reached as high as 82% in Taraba State. A second round of pilot test from 7-10th of March was done in Ogun,Ekiti, Anambra, Ebonyi, Akwa Ibom, Delta, Niger and Bauchi states with an average success rate of 62% without publicity.
“This is phenomenal because this is the first time in Africa that farmers will be getting subsidized input via their mobile phone. Nigeria is on the leading edge on this.”
He said government has been able to raise N30billion for agriculture development this year through a guarantee facility that the Federal Ministry of Finance has put in place with all banks in the country, which he said reduces the risk of lending by the banks.
The Minister noted that the N30billion would be used to finance the entire seeds and fertilizers supply for the country without one Naira of government money being spent.
“That is the first time that has happened in is country. Before now I would have had to sit down and sign N30billion contract, but we didn’t. It just tells you this government is working differently in a way that we are actually accountable in using money well,” he said.
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