The Nigerian Agricultural Mechanization and Equipment Leasing Company (NAMEL) with support from the Federal Government has made it possible for farmers to Pay only 20% to acquire any set of agricultural machinery or equipment and balance the payment over a period of 6years at a very low interest rate. The development is borne out of the Memorandum of Understanding (MoU) between NAMEL, the Federal Ministry of Agriculture and Rural Development (FMARD) and leading tractor manufacturing firm, John Deere to deploy over ten thousand tractors and other farm machineries to boost agriculture in Nigeria.
The MoU which was signed in Abuja on 14th June 2018 is intended to ease the burden of tractor procurement and improve mechanized farming to give room for food sufficiency and reduce poverty in the country.
Jason Brantley, the Managing Director of John Deere Sub Saharan Africa during the ground-breaking event, said he is indeed delighted to sign this partnership agreement with Nigerian government as it affords John Deere to deploy its quality technology in advancing Nigerian agricultural production processes.
Also speaking: The Head, Project Coordination of NAMEL, Mr. Innocent Ogirinye on his path said the development is also to encourage more youth participation in Agriculture, increase food production, boost job creation and promote local content in agricultural mechanization through the establishment of Agricultural Equipment Hiring Enterprises across all the 774 LGAs nationwide but on a demand driven. He further explained that operators and technicians will be trained by NAMEL, John Deere and the relevant training institutions under the Federal Ministry of Agriculture and Rural Development. After sales service centers stock with spare parts will also be established around clusters of the AEHE to provide maintenance services.
The Minister of Agriculture and Rural Development, Chief Audu Ogbeh who doubled as the Federal Government representative during the MoU signing, expressed deep satisfaction with the partnership saying “this signifies a landmark in our efforts to reposition Agriculture to serve and benefit Nigerian farmers, especially the smallholder
“We shall continue to deliver Mechanization extension services to optimize yield per hectare and we look forward to a fruitful working relationship with NAMEL, John Deere and all other partners in this very important programme.” He added.
The first batch of 400 tractors under the partnership are currently being finalized for deployment to set up about 286 AEHEs.