By Abdullahi Lukman
The National Agricultural Development Fund (NADF) has partnered with Psaltry International Company Ltd. to secure markets for smallholder cassava farmers, reduce post-harvest losses, and strengthen Nigeria’s food security.
The collaboration was announced at the flag-off of the NADF–FCMB support for the Psaltry-IDH-Mastercard initiative aimed at empowering 15,000 young women in cassava cultivation in Oyo State.
Speaking through the General Manager of Corporate Services, Mr Abiodun Sosanya, NADF Executive Secretary Muhammed Ibrahim said the partnership supports women and youth participation in commercially viable cassava farming under the Psaltry/IDH in-grower programme.
He noted that the initiative aligns with NADF’s mission to drive agricultural growth, sustainability and economic prosperity through inclusive financing.
NADF explained that the project, implemented under its Blended Finance On-Lending Programme (NADFBFP), will provide working-capital support for Psaltry’s network of outgrower and ingrower farmers. The programme brings together agro-processors, financial institutions and development partners to boost national food production.
FCMB Managing Director, Mrs Yemisi Edun—represented by Executive Director, Wholesale Banking, Mr O. Obaro Odeghe—commended the fund’s support, saying it would help Psaltry expand cassava-based sorbitol production.
She added that NADF’s interventions are reshaping the agricultural sector by enhancing its contribution to GDP, employment and income.
Psaltry CEO, Mrs Oluyemisi Iranloye, said the initiative will finance cultivation on 2,400 hectares and support 15,000 young women with inputs such as ploughing, fertiliser and chemicals. She noted that the project will help reduce imports by supplying local industries with products including starch, high-quality cassava flour, sorbitol and glucose.
Iranloye added that the programme has already reached youth, people with disabilities and internally displaced persons.
Under the NADFBFP arrangement, NADF will contribute ₦798 million (51 per cent), while the Mastercard Foundation will provide the remaining 49 per cent to drive the cassava production initiative targeting 12,000 to 15,000 women farmers.