The Niger State Government has expressed its willingness to establish a state Co-operative Bank for Agriculture to enable farmers in the state to have quick and easy access to soft loans for agricultural purposes.
Governor Mohammed Umaru Bago disclosed this during the flag-off of the free distribution of various agricultural inputs to smallholder farmers’ associations for year-round farming in the state.
He said the bank will operate as a microfinance bank to provide loans to agricultural co-operatives, thereby reducing the high interest rates charged by commercial banks and the rigorous processes involved.
The Governor stated that the state government will provide ₦2 billion as seed capital for the take-off of the bank and encouraged agricultural co-operatives to open an account with the bank when it becomes operational to access soft loans.
He explained that the idea is part of the agricultural revolution policy of his administration, which, he noted, will create jobs and increase the yield and financial status of the people.
The Governor added that relevant stakeholders from the federal government and private sectors will be involved to ensure the success of the initiative.
He also revealed that the state government will launch a pilot scheme for two million women in agriculture in 2026, under which they will be provided with goats, sheep, poultry, crops as seedlings, and other inputs and extension services to boost agriculture in the state.
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