Rice farmers to get single digit loan from CBN

The Central Bank of Nigeria said it would offer single-digit loan to rice farmers in the Niger Delta area and provide index insurance for participating farmers.

This was contained in a statement signed by the Head, Press and Public Relations at the Ministry of Niger Delta Affairs, Patricia Deworitshe.
It was issued after a second collaborative meeting between the Minister of Niger Delta Affairs, Godswil Akpabio, and representatives of the CBN in Abuja.

The meeting focused on how to develop the Niger Delta area, using farming as a tool on Friday.
According to Deworitshe, the representative of the CBN Governor at the meeting, Mr Anthony Ifechukwu, said that the CBN in 2018 identified cassava, rice, oil palm and cocoa farming as those with comparative advantage in the region, adding that the apex bank was also making effort to intervene in livestock and fishery production in the region.

The statement said, “Ifechukwu also assured participating farmers of a guaranteed market price for their produce, explaining that the bank would give a single-digit interest loan for five years.

 

Leave a Reply

Your email address will not be published.

WP Twitter Auto Publish Powered By : XYZScripts.com