1m farmers to benefit from Nigeria, Mastercard partnership
The Federal Government and Mastercard have entered into partnership to support one million African farmers to improve yield and agricultural productivity.
The spokesperson of the Vice-President Kashim Shettima, Mr Stanley Nkwocha, made this known in a statement on Friday.
The partnership deal was sealed during a meeting between Shettima and executives of Mastercard Corporation.
It is on the sidelines of the ongoing 79th Session of the UN General Assembly in New York
The project plan includes support for one million agricultural workers across Nigeria, Kenya and Tanzania.
It will focus on enhancing financial inclusion and digital access to critical services, as well as support from the African Development Bank (AfDB).
Shettima noted that the partnership would transform the potential for Africa’s food security drive.
He said: “this partnership is an important milestone in our quest for comprehensive financial inclusion and agricultural empowerment.
“By leveraging Mastercard’s global expertise, we’re set to create unprecedented opportunities for farmers across Nigeria, Kenya, and Tanzania.”
Earlier, the Minister of Communications, Innovation & Digital Economy, Dr Bosun Tijani, explained that the partnership would provide digital access to critical financial services for agricultural workers.
According to him, the partnership is expected to boost productivity and economic growth in the sector.
” We’re not just introducing new technologies; we’re reimagining the entire agricultural value chain.
” Our goal is to ensure that every farmer, regardless of their location, has access to modern financial tools,” he said.
He disclosed that the initiative also addresses existing challenges in Nigeria’s digital payment ecosystem.
“We’re aware of the trust deficits that have hindered the full activation of contactless payments by some acquirers and banks.
” This partnership includes specific measures to bridge these gaps and ensure widespread adoption,” Tijani added.
Also, the Mastercard Country Manager for West Africa, Dr Folasade Femi-Lawal, said a key component of the partnership was the rollout of contactless payment systems.
“We’re planning 160 contactless payment seminars starting next February. These seminars are crucial in educating stakeholders and preparing the market for this technological leap,” he stated.
NAN
