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Showing posts with label Bank of Agriculture. Show all posts
Showing posts with label Bank of Agriculture. Show all posts

Tuesday, March 10, 2015

Kaduna State farmers smile over N1bn funding facility

NaijaAgroNet 
The Kaduna State Government in collaboration with the Bank of Agriculture (BOA) has commenced the payout of N1bn as loans to farmers in the state, gathered NaijaAgroNet.

The State government, disclosed it paid the sum of N500m as well as the Bank of Agriculture (BOA), to limit the difficulties being encountered by farmers in accessing loans from financial institutions within its territory. 


Governor RamallanYero-led administration affirmed to NaijaAgroNet that Kaduna State profitably trained 7,650 youths and women under its SURE-P Skill Acquisition and Empowerment Programme.

Also NaijaAgroNetgathered that the government provided Starter Packs and take-off grants worth millions of Naira for the grandaunts from the training. For instance, NaijaAgroNet leant that those trained in poultry were given 100 two-week old chicks, N30,000 for housing, N10, 000 for treatment, N5000 for transport, 8 bags of feeds and N10,000 take-off grants which is sufficient for starters in poultry to commence successfully.

Micah Mailafiya who benefitted from the above scheme said "Before I got into this whole thing, I was very worried about getting into the university. I thought that was the only way to make it, until I heard about the government's training programme for young, determined people and I was listed as one of the nine young people from my ward. We were trained, but in my case, I threw myself into it. Today, thanks to the government, I am one of the success stories."
 
Chidozie Anibueze/GEE
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Sunday, October 6, 2013

BOA boosts Sokoto cassava farmers with N1.44bn



Anthony Nwakaegho/NaijaAgroNet

The Sokoto State Commissioner for Agriculture, Alhaji Arzika Tureta has disclosed the disbursement of N1.44 billion loan by the Bank of Agriculture (BOA) to cassava farmers in the state.

Tureta gave this hint to NaijaAgroNet stating that the beneficiaries of the loan comprised of 7,000 farmers registered under the umbrella of the Cassava Growers Association of Nigeria (CGAN) drawn from the 23 local government areas of the state.

The Commissioner also said that the state government had already paid N178.5 million as its equity contribution for the loans scheme.

 "Out of the amount, N35 million was paid for the registration of the cassava farmers, who will benefit from the loan," Tureta said.

He explained that the ministry had set up a committee to ensure that the beneficiaries were genuine farmers from the state, stressing that the loan would boost food security, curb youth’s restiveness, reduce poverty, as well as unemployment, among others.

Tureta, therefore, urged the beneficiaries to use the money for the purpose it was meant for in order to sustain the objectives of the scheme. 


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Thursday, September 26, 2013

BOA, Cassava farmers partner on mechanised farming

   


Anthony Nwakaegho/NaijaAgroNet

The Bank of Agriculture (BOA) and the Nigeria Cassava Growers Association in Abuja has signed an agreement following the N3 billion set aside by the federal government to assist the farmers to acquire modern implements.

The Managing Director of the Bank, Dr Mohammed Santuraki, said the agreement was the outcome of the dialogue that had been ongoing between the bank and the farmers association.

Santuraki who was represented by Executive Director, Wholesale Finance of the bank, Mr Waziri Ahmadu, said both parties had agreed on modalities for the association to access the loan through mutual partnership.

“The bank has worked out appropriate loan processing procedures that will ensure smooth and timely packaging of loans, so long as applicants meet the bank’s requirement. The interest rate pegged at 12 per cent would be at the discretion of the Central Bank of Nigeria and Nigeria Incentive-based Risk Sharing for Agricultural Lending, he said.

NaijaAgroNet gathered that the bank has been in partnership with the bank since 2008 when it set aside N200 million for disbursement to its members to cultivate cassava, while the Flour Millers Association of Nigeria also established the Cassava Endowment Fund and domiciled it with the bank.

Earlier in his speech the Minister of Agriculture and Rural Development, Dr Akinwumi Adesina, commended the association for their dedication in its dealings on matters relating to agriculture and stressed that the signing of an agreement between the Bank of Agriculture and the Nigeria Cassava Growers Association in Abuja would enable farmers to access loan through the bank for mechanised farming in cassava.

The President of the association, Mr Segun Adewumi said it would cultivate one million hectares of cassava in the 2013 planting season and pledged the resolve of members of the association to repay the loan on schedule.

 NaijaAgroNet
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