The Barau Initiative for Agricultural Revolution in the North West (BIARN), an initiative of the Deputy President of the Senate, Jibrin Barau, yesterday signed a Memorandum of Understanding (MOU) with the Bank of Agriculture (BOA) to enhance food security by creating a new generation of young farmers.

The partnership, according to a statement by his Media Adviser, Ismail Mudashir, aims to empower 558 young and mid-level farmers in the northwest region with N5m each.

The statement explained the initiative also aimed at transforming them into successful millionaires while addressing food security, unemployment, and economic growth in the area and the entire nation.

The signing ceremony, which was held at the National Assembly, it added, was attended by Senator Barau and the BIARN team led by Professor Bashir Mohammed Fagge, the Chairman of the scheme’s implementation committee, who signed on behalf of BIARN.

The BOA delegation led by Alhaji Alwan Ali Hassan, the Managing Director, signed on behalf of the Bank.

The statement read: “Under the scheme, each beneficiary will receive a loan of up to N5 million to cultivate maize or rice with high yields and proven high-profit margins.”

Speaking after the signing ceremony, Barau reiterated that the initiative aligns with President Bola Ahmed Tinubu’s Renewed Hope Agenda, particularly in food security and youth empowerment.

He also emphasised that the program will target youths, including holders of HND, bachelor’s degrees, master’s degrees, and PhD, who are currently unemployed. 

Barau said: “First of all, let me begin by telling people in the northwest region of this country, indeed the entire Nigeria, that I decided to bring forward this initiative in line with the president’s resolve to bring about food security in this country, and in line with his Renewed Hope Agenda.

“It is one of the cardinal programs of this administration, boosting agriculture and providing food for the citizens of this country.

“It is in line with these that I decided to bring forward this initiative.

“Not only that, it is an avenue to provide jobs for our teeming youths to become agricultural entrepreneurs because the intention, apart from providing food, is to make successful millionaires out of our teeming youths who are unemployed.

“We decided that those who will be involved in this scheme are holders of HND, bachelor’s degree, master’s and PhD, who are from the region.”

Senator Barau, who is also the First Deputy Speaker of the ECOWAS Parliament, commended President Tinubu for boosting the BOA’s capital base by N1.5 trillion.

The Deputy President of the Senate also commended the Managing Director of the Bank of Agriculture for his dedication to the scheme.

“I also want to use the opportunity to commend Mr. President for boosting the capital base of the Bank of Agriculture by N1.5 trillion.

“This demonstrates Mr. President’s resolve to enhance agriculture in this country. Mr. President is serious. He has a passion to turn around the agricultural fortunes of this country for the better,” he said.

Speaking earlier, the MD of BOA, Alhaji Alwan Ali Hassan, assured Senator Barau that his initiative on the loan scheme would be well implemented and coordinated to attain food security in the country in line with President Tinubu’s Renewed Hope Agenda.

“BOA is very happy with the initiative to revolutionise agriculture in the Northwest geopolitical zone and raise 558 young farmers millionaires in the area of Maize and Rice cultivation,” he said.