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Anambra, BoA partner in N1.2b grant for farmers

By BusinessNews Staff on December 7, 2013

The Anambra State Government has in collaboration with the Bank of Agriculture (BOA) on Thursday presented a total of N1.2 billion to farmers in the state as revolving loans.

Flagging off the scheme in Awka, the state capital, Governor Peter Obi urged beneficiaries to utilise the credit facility and ensure prompt repayment.

Obi said the initiative would boost food production in the state and assured the people that his administration would continue to function efficiently till March 2014.

Speaking also, Managing Director of BOA, Dr Mohammed Santuraki, said the collaboration was aimed at supporting small and medium scale farmers and other agricultural value chain entrepreneurs.

Santuraki said 960 farmers and 192 Small and Medium Enterprises and agro- businesses in the state would benefit in the first phase of the loan scheme.

“The programme will create direct employment for 1,344 residents and another 384 people along the agricultural value chain.

“By the end of the collaboration, over 1,920 hectares of arable land would have been cultivated for rice, yam and cassava, among others,” he said.

The Commissioner for Agriculture in the state, Mr Ndubuisi Menakaya, said that the administration had in 2006 secured a N150 million loan for farmers and another N1 billion loan in 2011.

He said the state government, through a Public-Private Partnership arrangement, had initiated a Songhai Model farm and a livestock farm at Urum and Nkwelle-Ezunaka communities, respectively.

[Daily Independent]

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