A new initiative to improve agricultural and farmers productivity and ensure sustained food production was unveiled in Makurdi, the capital of Benue State. The Farmer Wallet Mobile App is designed specifically for smallholder farmers and aims to transform their financial and agricultural practices.
During the unveiling, Engr. Valentine Iorlaha, the chief executive officer and founder of the Farmer Wallet Mobile App, announced that it is the first digital cooperative financing system to be launched in Benue and Nigeria.
He stated, “This APP will allow smallholder farmers to save incrementally at their convenient and securely for farm inputs, such as seedlings, agrochemicals, fertilizers and mechanisation, while also providing access to microloans, insurance, market, data and extension advisory services.”
Iorlaha emphasized the potential of Benue State, saying, “Benue State is blessed with fertile lands and a vibrant farming population that requires the innovation that we are unveiling today.
The Farmer Wallet is designed to address the unique challenges faced by our smallholder farmers and we firmly believe it will play a vital role in unlocking investment by the farmers themselves.”
He highlighted that the foundation of the Farmer Wallet App builds on the E-Wallet System initiated by Dr. Akinwumi Adesina, president of the African Development Bank, during his tenure as Minister of Agriculture.
Iorlaha noted, “We have further developed the Wallet into a sustainable, self-driven and scalable digital platform that provides more than just farm inputs but also empowers farmers with financial services, planning tools and market access, which will make their farming journey more prosperous and secured.”
Iorlaha also commended Tony Elumelu, founder of the Tony Elumelu Foundation, for his support throughout the development process, stating, “I will also like to commend Tony Elumelu founder of Tony Elumelu foundation for his support morally and financially which has helped in all the processes that led to where we are today.”
Patricia Goja, managing director of Novus Microfinance Bank (Novus MFB), added that the bank, founded by the Benue State government and licensed by the Central Bank of Nigeria, aims to enhance the lives of farmers in rural communities.
“The MFB is dedicated to enlarging the food basket status of Benue State, and to facilitate this, we are in collaboration with Farmer Wallet to use their App and through our 3000 agents network assist farmers save funds for farm inputs and food,” she said.
Goja assured attendees that the Farmer Wallet App is user-friendly and will be integrated into their mobile banking app and internet banking, also being made available on their website.
Abel Owoicho, state chairman of the All Farmers Association of Nigeria (AFAN), commended Iorlaha for the initiative and assured that all farmers would engage with the project. He urged the management of Novus and Farmer Wallet to work on including indigent farmers in their programs.
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In a related development, farmers have reiterated their call for the reintroduction of mobile phones and e-wallet systems, recognizing these technologies as vital tools for enhancing food production and improving agricultural efficiency.
They believe that these systems can revolutionize the farming sector, providing access to critical information and enabling farmers to obtain farm input subsidies through certified agro-dealers in their communities.
Farmers noted that real-time information helps them make informed decisions, plan activities effectively, and optimize crop yields, particularly through accurate weather updates.
They recalled that mobile phones and e-wallets were integral to the agricultural transformation agenda during Goodluck Jonathan’s administration, aimed at expanding access to markets and financial services.
A Benue-based medium-scale farmer, Martins Garba, emphasized the significance of e-wallets, stating, “E-wallets provide a convenient and secure means for transactions, allowing farmers to receive payments, manage finances, and access microloans without the need for a physical bank branch.” He added that financial inclusion is crucial for enabling farmers to invest in their operations and increase production.
The National President of AFAN, Ibrahim Kabir, expressed support for returning to a system where subsidized inputs are allocated to farmers, stating, “Yes, we want to return to the old system where interventions led to the allocation of subsidised farm inputs, allowing farmers to obtain these resources at reduced prices and boost their businesses.”
He stressed the importance of ensuring that any interventions are equitable and benefit all farmers, regardless of their location.
Kabir concluded, “This approach will not only resolve the issue of input access for farmers but also contribute to overall food sufficiency. When farmers are well-supported and food production is robust, it will positively impact the prosperity of both the country and its agricultural sector.”
