Agriculture
Bank Disburses N814m To Beneficiaries – Manager
The Kano Zone of the Bank of Agriculture disbursed more than N814 million to 6,523 beneficiaries in 2010, says Alhaji Shehu Yero, the Zonal Manager of the bank.
The bank was formally known as the Nigerian Agricultural Cooperative and Rural development bank (NACRDB).
Yero, who disclosed this to our correspondent in Kano said that the “credit gap” between the demand for loan and the available funds was the greatest challenge facing both the bank and peasant farmers.
Analysing the enormity of the challenge, Yero said that at least N100 billion would be required to disburse to one million peasant farmers.
According to him, nearly 50 million other farmers are in “dire” need of the same facility, while large-scale farmers were the major loan defaulters.
“The repayment of loan by peasant farmers is far higher than that of big time farmers, some of who are influential and highly educated,” Yero said.
The manager observed that the failure of beneficiaries to repay their loans had limited the capacity of the bank to give loans to more applicants.
He stressed the need for large-scale borrowers to always honour the terms of the loan by repaying in good time to enable other prospective Nigerians to access the facility.
Meanwhile, the Bank of Agriculture says it is still awaiting the approval of the Board of Directors to effect a change in its logo.
It was formally known as the Nigerian Agricultural Cooperative and Rural Development Bank (NACRDB).
The bank’s Head of Corporate Planning, Dr. Mahmud Kolo, told our correspondent in Kaduna on Thursday, that the new name was already in use.
Kolo said that the logo of the bank remained the same until the change was ratified by the board, adding that although all the bank’s corespondences carry its new name, NACRDB was still retained underneath for identification purposes.
Kolo said the bank had completed the statutory requirements and registered the new name with the Corporate Affairs Commission.
When the board ratifies the name, the bank would officially unveil the name and the logo and thereafter effect such change in all its branches.
He appealed to the bank’s customers to bear with the situation for now.
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FG, Ogun Distribute Inputs To 2,400 Farmers
Federal Government and the Ogun State Government, on Wednesday, distributed farm inputs to farmers as part of effort to address food security challenge.
The State Director, Federal Ministry of Agriculture and Food Security, Dr. Toyin Ayo-Ajayi, during the flag-off ceremony of Inputs Redemption Under The National Agricultural Growth Scheme-Agro Pocket (NAGS-AP), in Ogun State, disclosed that beneficiaries of the gesture were primarily rice, maize and cassava farmers across the State.
Ayo-Ajayi commended the Ogun State Government for partnering with the government at the centre for the effort in supporting farmers with inputs that would bring about yieldings for local consumption and likely exportation.
She noted that government is supporting rice, cassava and maize farmers with inputs worth N212,000; N189,000 and N186,000 respectively.
The Permanent Secretary in the State Ministry of Agriculture, Mrs Kehinde Jokotoye, who represented the Commissioner in the Ministry, Bolu Owotomo, stated that traditional farmers are critical in food production, hence the need to encourage and support them with inputs that would bring about desired results during harvesting.
Owotomo said: “Let us make good use of this opportunity, so that the success of this phase will make farmers benefit more from the state and federal governments of Nigeria.”
Earlier, State Coordinator, Federal Ministry of Agriculture and Food Security, Dr. Oluwatoyin Ayo-Ajayi, appreciated the present administration for partnering with the federal government for the initiative, adding that the programme is designed to support farmers at the grassroots level in cassava, rice and maize with inputs such as, seeds, pesticides, herbicides and fertilizers, to boost their production and enhance their livelihood.
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