President Muhammadu Buhari has directed the Ministry of Agriculture and the Central Bank of Nigeria (CBN) to bypass the knotty issue of collateral which he described as "a terrible colonial legacy," so that farmers will get easy access to capital.
The President gave the directive during an audience with members of the United Kingdom-based Foundation for Good Governance for Development in Nigeria at the State House, Abuja, on Tuesday.
According to the President, a top priority of his administration is to ensure that the efforts of hardworking Nigerian farmers are respected.
President Buhari also identified smuggling as a threat to domestic agricultural production and processing, and promised to continue to fight the menace with all means available to government.
The President assured that in addition to the focus of his administration on security, economy and the war against corruption, the new administration in his second term would pay greater attention to education and health.
"I understand our problems. I am acutely aware of my duty to my God and country. I will continue to do my best," he told the support group.
In his remarks, the leader of the group, which is mostly made up of scholars and professionals, Dr Arabo Ibrahim Bayo, said they came together on the basis of a shared passion for the country's development.
He added that the group was in the firm belief that "President Buhari represents the best in terms of leadership that Nigeria can offer."
He commended the achievements of the administration in the last four years in implementing its three cardinal objectives of providing security, improving the economy and the war against corruption.
He, however, suggested the declaration of an emergency to tackle challenges in education and health sectors.
The group further pledged support to the President for a formidable and enduring legacy.