Agriculture
Ministry, CBN To Review Farmers’ Loan Tenor
The Ministry of
Agriculture and Rural Development (FMARD) and the Central Bank of Nigeria (CBN) have agreed to partner to review loan tenor for farmers from six to twelve months as part of the resolve of the emerging generation of leaders to uplift the nation.
The plan also includes Chief Executives of Commercial Banks in the country.
The Minister who made this known to newsmen in Abuja recently at a breakfast meeting which was organised by his ministry said the venture would ensure increased food production in 2014.
Adesina explained that the partnership would also reduce inflation and enable banks to reconcile modalities for seed and fertilizer supply chain.
He said one of the decisions reached sought to underscore the Federal Government’s appreciation for the contributions of the banks to the evolving agricultural revolution in the country.
According to him, the meeting also discussed and resolved some challenges concerning bureaucratic practices in the loans repayment process.
Adesina explained that so far a total amount of N20 billion was lent to farmers in 2013 as against N3.5 billion in the preceding year.
He said the increase was based on the confidence reposed on the farmers resulting from the institutional structures which were created in the form of value chains.
The Minister said such structures have done so much in creating and sustaining confidence in the value claims as the ministry was ready to reduce the risk of lending by banks to the agricultural sector.
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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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