NEW!  BREAKING NEWS: Top 5 world’s richest people in 2020 Read More

News

Nigerian Government Will Support Farmers With Interest-free Loans — Agric Minister

1 Mins read

Minister of Agriculture and Rural Development Sabo Nanono made the declaration while receiving the 2020 Wet Agricultural Performance Survey, according to a statement released in Abuja by Ezeaja Ikemefuna, an information official of the ministry.

The Nigerian government will collaborate with the Central Bank of Nigeria (CBN) with a view to supporting farmers nationwide with interest-free loans, Minister of Agriculture and Rural Development Sabo Nanono said on Sunday.

“The ministry would support the farmers with agricultural inputs and zero interest loans through the Central Bank of Nigeria and other financial institutions to mitigate the effect of the COVID-19 and the recent flooding especially in Kebbi, Jigawa and Kano States,” Nanono said.

The CBN in September announced it would henceforth share 50% of the loss incurred by farmers in its Anchor Borrowers Programme in order to succour them against the worst drought in the country in the last five years.

Nanono said of the survey the exercise had demonstrated that result-oriented subsidisation of input would bolster productivity in the agriculture industry.

He enjoined farmers to ramp up efforts and concentrate on recording higher progress during the dry season farming in a bid to mitigate losses from the coronavirus pandemic.

Farmers in the northern part of the country are facing a particularly cruel season this year, having seen downpours of rain submerging paddy fields and other produce in a region known for low rainfall round the year, forcing them to count losses.

Related posts
News

Nasarawa State Governor speaks on Paying workers in Percentage

2 Mins read
Sule said this while addressing some suspended local government Directors of Personnel Management (DPMs) and Directors of Finance and Supplies (DFAs) at…
NewsAfrica News

Nigerian lawyer drags Ugandan President to UN over Bobi Wine’s detention

1 Mins read
Nigerian human rights lawyer, Mr Femi Falana (SAN), has filed a complaint at the UN against Ugandan President, Yoweri Museveni, over the…
CoronavirusNews

One In Every Five Persons Tested Was Positive to Coronavirus –Boss Mustapha

3 Mins read
The PTF Chairman while giving his remarks on Monday noted that one in every five persons tested in Nigeria within the passing…
Please SUBSCRIBE for our Latest News

 

0 0 vote
Article Rating
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments
x
0
Would love your thoughts, please comment.x
()
x