Tinubu Promises Interest-Free Loans for Small-Scale Farmers, Unveils APC Manifesto

President Bola Tinubu has promised interest-free loans for small-scale farmers and commissioned 400 tractors in Jigawa State, as his administration pushes to raise food production and strengthen food security. He made the pledge on Tuesday, November 10, at Dutse Township Stadium during a campaign rally.

The tractors and other agricultural equipment were acquired by the Jigawa State government to promote mechanised farming. Tinubu said the support would reward small-scale farmers. "We will reward small-scale farmers. Interest-free loans for farmers are coming. Prosperity is coming. Food security will happen," he said.

Subsidy removal and 2027 election

Tinubu defended the removal of the petrol subsidy, which he announced on May 29, 2023, during his inauguration. The policy triggered a sharp increase in fuel prices and contributed to higher transportation costs, food prices and the cost of other essential goods. He argued that ending what he described as wasteful subsidy spending had freed up government resources for infrastructure and other critical investments.

The President dismissed opposition politicians promising to restore the subsidy, questioning how they would finance the commitment. "You have seen what we are doing. Across the country, no region is left behind. Those who think they should bring the subsidy back are liars. How will they pay for those commitments? How will you repair the roads? How will you maintain them? How will you function?" he asked.

He thanked Jigawa residents for their support and urged them to vote for the All Progressives Congress in the 2027 general elections, where he is seeking a second four-year term. He also unveiled the APC campaign manifesto titled From reforms to prosperity, which he described as a framework for building on existing economic reforms, expanding opportunities and delivering shared prosperity.

Security and welfare pledge

Tinubu reiterated his commitment to tackling insecurity. He promised improved welfare and better salaries for members of the armed forces and the police.

Loan schemes for traders

The government is also set to empower market women, small-scale traders and artisans with access to zero-interest loans of up to N100,000 through its upcoming programmes, MarketMoni and TraderMoni. MarketMoni will provide market women with interest-free loans to grow working capital, restock inventory and expand their businesses. Beneficiaries will enjoy zero collateral, a three-month moratorium before repayment and nationwide coverage across all six geopolitical zones.

The subsidy removal remains a major concern for Nigerian households because it raised transport and food costs. The promised interest-free loans and tractors will be watched for delivery, given their potential effect on food production costs for consumers and small businesses.