Farmers News - Kogi Farmers Get N750m Loan
About
3,800 farmers in Kogi State have benefited from a N750 million loan jointly
facilitated by the Bank of Agriculture (BoA) and the state government.
Disbursing
the loan yesterday, Governor Idris Wada urged the beneficiaries, who cut across
21 local government areas, to repay the loan promptly so that others can
benefit from it.
He
said: “Agriculture used to be the main stay of the nation’s economy. With the
credit facility and farmers’ commitment, in the near future, agriculture can
again become the main stay of our economy.”
Commissioner
for Agriculture Zacchaeus Oluwagbotemi said his ministry would monitor the
beneficiaries to ensure that the loans are used for the purpose they are meant
for.
BoA
Managing Director/Chief Executive Officer Babatunde Sediq said the bank has
disbursed N1.3 million to farmers, adding: “Loan below N250 million are given
without traditional collateral but with guarantee by the cooperative societies.
This was done to assist peasant farmers, who have the intention to grow their
farm business but lack the capital for expansion.”
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