NEWS
FG Rolls Out 2000 Tractors, Other Implements to Achieve Food Sovereignty
By Raphael Atuu, Abuja
The Federal Government has rolled out 2,000 tractors, implements and over 9,000 spare parts to enhance food production, improve the income of Nigerian farmers and achieve food sovereignty as well as revolutionize the agricultural ecosystem.
Speaking during the Official Flag-off of the Deployment of 2000 Tractors, Implement and over 9000 spare parts under the Renewed Hope National Agricultural Mechanization Programme, in held Sheda, Abuja, recently, the Minister of Agriculture and Food Security, Sen.
Abubakar Kyari revealed that the Initiative was the largest single agricultural mechanization programme ever undertaken on the African continent. ‘’This is not merely an equipment rollout. It is the ignition of a national agricultural productivity revolution, ending the long era of low tractor density in Nigeria’’.Kyari stated that ‘’Through the Renewed Hope National Agricultural Mechanization Program, we are deploying 2,000 heavy-capacity tractors and over 9,000 precision implements under a rigorously engineered national framework. This first tranche of 600 tractors marks the beginning of a phased acceleration. This will be followed by 750 tractors and 650 tractors, culminating in a nationwide force of 2,000 mechanization assets’’.
He said that ‘’ In line with Mr. President’s vision that scale must drive impact, these tractors are not distributed for private ownership. They are entrusted to Mechanization Service Providers (MSPs) where each tractor, with the capacity to service approximately 600 hectares per year, becomes not just a machine but a multiplier of productivity. Many of these MSPs are youth-and-women-led enterprises operating under a lease-to-own model. This is not just about 2,000 beneficiaries. It is about 1.2 million farmers across over 1.5 million hectares annually. It is about national food sovereignty’’.
The Minister pointed out that ‘’the Ministry stands as the sovereign steward, providing policy authority, standards governance, configuration control, lifecycle asset management, quality assurance, performance monitoring, strategic feedback systems, and national capacity building. This is not just equipment distribution. It is a governed transformation as mechanization provides the horsepower, finance provides the liquidity and policy provides the stability. Together, they deliver food security, job creation, and economic resilience’’.
He further said that ‘’ each tractor deployed today comes with two years of free service support. We are institutionalizing maintenance culture, genuine parts replacement, asset longevity, and disciplined performance management. Because mechanization without maintenance is an expenditure. Mechanization with maintenance is investment’’.
He stressed that ‘’ we are deploying 36 mobile service trucks for rapid first-line technical response. We are constructing seven mega mechanization service centers strategically across the nation. And we are catalyzing the establishment of one mega tractor assembly plant capable of producing between 2,000 and 4,000 tractors annually. We are not importing dependency. We are building industrial capability’’.
He further revealed that ‘’Beyond procurement and sustainability lies the structure. The Bank of Agriculture (BOA), in collaboration with Heifer International, is strategically positioned to deploy structured financing models, leasing, hire-purchase, service aggregation, and performance-based access systems that guarantee equitable access, financial discipline, asset sustainability, and measurable developmental impact. These tractors will not sit idle. They will work and multiply productivity. They will generate value across the agricultural value chain.
According to him, ‘’this intervention is part of a comprehensive agricultural financing ecosystem envisioned by Mr. President. Through a ₦50 billion catalytic seed fund with the Bank of Industry (BOI), we are unlocking agro-industrial investment at scale. This wet season alone, ₦250 billion has been mobilized to finance one million smallholder farmers, each cultivating an average of one hectare in 2026 in partnership with state governments.
On this note, to our Mechanization Service Providers: you are the operators of national assets. Let discipline, professionalism, and integrity define your stewardship. To our young entrepreneurs and women-led enterprises: this is your industrial frontier. Lead it with excellence. To our farmers: prepare for higher yields, faster turnaround cycles, reduced drudgery, and expanded acreage. To our partners and investors: Nigeria is mechanizing at scale. You are encouraged to join the momentum, ‘’ the minister appealed.
In his remarks, the Minister of State for Agriculture and Food Security, Sen. Dr. Aliyu Sabi Abdullahi said that the programme would operate through mechanization service centers, allowing farmers to access equipment without the burden of purchasing tractors.
He assured farmers that the programme would be implemented fairly and inclusively, particularly for women who account for a significant portion of agricultural production.
During his welcome address, Managing Director, Bank of Agriculture, BOA, Mr Ayo Sotinrin, said the programme was designed to create a sustainable mechanization ecosystem and avoid past failures.
Sotinrin, revealed that the programme has already attracted strong demand from agribusiness operators and mechanization providers, with over 10,000 applications received in the first phase alone.
He explained that each tractor must service at least 600 hectares annually to remain economically viable, ensuring sustained revenue generation and long-term operational sustainability.
He added that the initiative would operate through structured financing models, including leasing arrangements, service-based repayment, and partnerships with state governments, private operators, and development partners.
Nasarawa State University, Keffi and Prince Interior Vocational Institute have taken a significant step toward strengthening entrepreneurship and practical skills development among its students aimed at training professional furniture artisans.
The collaboration, formalised through a Memorandum of Understanding (MOU), is expected to produce over 500 furniture artisans within two years.
In her remarks during the signing of the MoU, the Vice-Chancellor of the university, Prof.
Sa’adatu Liman said that the collaboration was one of the criteria for TETFUND guidelines in entrepreneurial development output.Liman commended the company for finding the institution a worthy and reliable partner for the entrepreneurial and vocational project.
According to her, the partnership will be beneficial to the entire university community.
Earlier, the Director of the university Entrepreneurship Development Centre (EDC), Prof. Rashidah Olanrewaju, said the university students will benefit from about 50 different skills in the EDC.
She appreciated the company for the partnership and wished the partners a successful and fruitful collaboration.
The Chief Executive Officer, Prince Interior Vocational Institute, Emeka Owgueke explained that the programme targets the establishment of a medium-scale furniture workshop on campus.
He said that the workshop will be equipped with the basic machines to sustain production and reduce the university’s overhead costs on furniture procurement.
According to Owgueke, the partnership represents a shared vision to create opportunities for young Nigerians to acquire marketable skills and build sustainable businesses within the furniture and interior design industry.
He explained that participants in the programme will be exposed to the entire furniture production value chain, including raw material sourcing, product manufacturing, finishing, branding, marketing, and distribution.
He said under the agreement, students of the university will receive hands-on training in furniture making, interior product design, and business development.
” Under the agreement, university students will be enrolled at Prince Interior Vocational Institute to acquire hands-on, certified training in furniture making, interior product design, and business development.
He commended the leadership of the University for recognising the importance of vocational education and enterprise development in addressing youth unemployment and building a resilient local economy.
“We are deeply grateful to Prof. Sa’adatu Liman and the leadership of the Nasarawa State University for recognising our uniqueness and extending this incredible opportunity to us.
” This partnership is more than an academic arrangement — it is a shared commitment to opening doors for more young Nigerians to boldly step into their career journey, whether from scratch, brushing up existing skills, or upgrading to the next level in the interior and design space.”
Students gain profitability-focused mentorship covering production, pricing, branding, and distribution of furniture goods.
Pope Leo calls for a ceasefire and denounces “horrific violence” in the Middle East
Pope Leo XIV has called for a ceasefire in the Middle East conflict as Israel and Iran continue to trade blows and the death toll across the region mounts.
“On behalf of the Christians of the Middle East and all women and men of good will, I appeal to those responsible for this conflict: cease fire,” Leo said today after the Sunday Angelus prayer in Vatican City.
The first American pontiff said people in the region have been “suffering the horrific violence of war” for the past two weeks since the conflict broke out.
“Thousands of innocent people have been killed and many more forced to flee their homes. I once again offer my prayers to all those who have lost loved ones in the attacks that have struck schools, hospitals and residential areas,” he said.
Leo added that “violence can never lead to the justice, stability and peace that the people are waiting for.”
FAAC Shares N1.894trn Feb Revenue to FG, States, LGCs
By Tony Obiechina, Abuja
A total sum of N1.894 trillion, being February 2026 Federation Account Revenue, has been shared to the Federal Government, States and the Local Government Councils.
The revenue was shared at the March 2026 Federation Account Allocation Committee (FAAC) meeting held in Abuja, according to a statement by Bawa Mokwa, Director of Press and Public Relations at the weekend.
The N1.894 trillion total distributable revenue comprised distributable statutory revenue of N1.274 trillion, distributable Value Added Tax (VAT) revenue of N619.119 billion.
A communiqué issued by the Federation Account Allocation Committee (FAAC) indicated that total gross revenue of N2.230 trillion was available in the month of February 2026. Total deduction for cost of collection was N77.302 billion while total transfers, refunds and savings was N259.078 billion.
According to the communiqué, gross statutory revenue of N1.561 trillion was received for the month of February 2026. This was lower than the sum of N1.957 trillion received in the preceding month by N395.138 billion.
Gross revenue of N668.450 billion was available from the Value Added Tax (VAT) in February 2026. This was lower than the N1.083 trillion available in the month of January 2026 by N414.710 billion.
The communiqué stated that from the N1.894 trillion total distributable revenue, the Federal Government received a total sum of N675.088 billion and the State Governments received a total sum of N651,525 billion.
The Local government Council received N456.467 billion, while the sum of N110.949 billion (13% of mineral revenue) was shared to the benefiting State as derivation revenue.
On the N1.274 trillion distributable statutory revenue, the communiqué stated that the Federal Government received N613.174 billion and the State Governments received N311,010 billion.
The Local Government Councils received N239.776 billion and the sum of N110.949 billion (13% of mineral revenue) was shared to the benefiting States as derivation revenue.
From the N619.119 billion distributable Value Added Tax (VAT) revenue, the Federal Government received N61.912 billion, the State Governments received N340.515 billion and the Local Government Councils received N216.692 billion.
In February 2026, Oil and Gas Royalty and Excise Duty increased significantly while Petroleum Profit Tax (PPT), Hydrocarbon Tax (HT), Companies Income Tax (CIT), CGT and SDT and Value Added Tax (VAT) decreased substantially.
Import Duty and CET increased marginally
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