The National Agricultural Development Fund (NADF) has launched a blended on-lending partnership with Psaltry International to empower 12,000 young women in cassava cultivation across rural communities in Oyo State.
NADF Executive Secretary, Mohammed Ibrahim, disclosed this in Abuja on Sunday, reaffirming the fund’s commitment to strengthening agricultural growth, socio-economic development and women’s inclusion across Nigeria’s farming sector.
Represented by Abiodun Sosanya, General Manager, Corporate Services, Ibrahim said the first phase of the initiative would directly engage 12,000 women, with the programme expected to reach 45,000 beneficiaries by the end of its multi-year implementation.
He said NADF was contributing N798 million—representing 51 per cent of the total funding—while the Mastercard Foundation was providing 49 per cent through the NADF Blended Finance On-Lending Programme (NADFBFP), designed to support structured agricultural financing.
“The financing will support the cultivation of 2,400 hectares of cassava, engaging women farmers through Psaltry’s structured network of outgrowers and ingrowers to ensure productivity, efficiency and inclusion in Nigeria’s agricultural value chain,” he said.
According to him, FCMB will serve as the participating financial institution, facilitating disbursement of funds, while the Mastercard Foundation will support farmers’ input requirements to ensure timely access to quality materials for cassava production.
Ibrahim added that the programme guarantees market access through backward integration, lowers production costs through subsidized lending, and promotes value addition for locally grown cassava, in line with national priorities to create economic opportunities for women.
“The initiative also aligns with the food security and sovereignty goals of President Bola Tinubu’s Renewed Hope Agenda, demonstrating how structured agricultural finance can strengthen domestic food supply and reduce Nigeria’s reliance on imports,” he said.
FCMB Chief Executive Officer, Yemisi Edun, described the partnership as transformative, noting that funding 2,400 hectares of cassava would significantly scale production and help close Nigeria’s agricultural finance gap.
Edun, represented by Executive Director Obaro Odeghe, said the programme underscored the power of public-private partnerships in repositioning agriculture as an economic driver and widening access to structured financing for smallholder farmers.
Founder and CEO of Psaltry International, Oluyemisi Iranloye, said the inauguration coincided with Psaltry’s 20th anniversary, marking a major milestone in empowering women while boosting cassava production and agro-industrial capacity.
She said the programme would initially impact 15,000 women before expanding to 45,000 beneficiaries, producing food grains, starch, high-quality cassava flour, sorbitol and glucose—supporting import substitution and strengthening local supply chains.
“The initiative also targets youth, internally displaced persons and persons with disabilities, demonstrating Psaltry and NADF’s commitment to inclusive growth, sustainable agriculture and the creation of socioeconomic opportunities in rural communities,” Iranloye added.
She stressed that the combination of public sector backing, private banking guarantees and support from international foundations has created a scalable model for investment, productivity and economic inclusion in Nigeria’s agricultural sector.
