The Federal Government has unveiled a major initiative to grant up to N2bn in financing to 40 tertiary institutions across the country to set up commercial farms. The plan seeks to raise domestic food supply, provide jobs, and help higher institutions generate their own revenue rather than relying solely on government allocations.
The Minister of Education, Dr Tunji Alausa, shared details of the project during a meeting with heads of the chosen institutions and the management of the Bank of Agriculture, according to Punch. A statement by the minister's media aide, Ikharo Attah, noted that the initiative, tagged the Renewed Hope Tertiary Agricultural and Entrepreneurship Programme, intends to bring over 500,000 hectares of unused land into active farming and research.
Under the framework, universities, polytechnics, and colleges of education are expected to allocate roughly 1,000 hectares of land each, though schools with smaller plots could still be considered if their business models are solid. Participating schools will set up limited liability firms to work directly with the Bank of Agriculture, which will disburse between N1bn and N2bn to support crop cultivation and farm inputs.
Alausa explained that the ministry has already set aside N20bn in its capital budget to back 20 institutions. This comes alongside earlier funding interventions through the Tertiary Education Trust Fund, which previously allocated N1bn to some schools and N2bn to others.
To boost mechanisation, the minister revealed that each school will receive 10 tractors at subsidised rates. The government also plans to provide improved seedlings, fertilisers, water pumps, irrigation tools, and technical guidance to lift crop yield.
The initiative will involve students, jobless graduates, alumni, school staff, and host communities under expert supervision. The scheme will also link farms with produce aggregators to ensure ready markets and cut down post-harvest waste.
