No fewer than 100 farmers’ groups in Kano State, under the All Farmers Association of Nigeria, will benefit from the N2bn agricultural loan to be disbursed by the Bank of Agriculture.
The loan is to be disbursed under a partnership between the Kano State Government and the Bank of Agriculture, the News Agency of Nigeria reports.
The state Secretary of AFAN, Alhaji Garba Bichi, made this known in an interview with NAN on Wednesday in Kano.
He said the association had purchased 100 application forms from the state Ministry of Agriculture for onward distribution to its registered members across the state.
“The forms were purchased at the cost N2,000 from the Ministry which is coordinating the facility.
“The loan will be disbursed in three phases; the first phase is from N10,000 to N250,000, while the second and third phases range from N250,000 to N5m.
“The loan will be disbursed to about 100 of our individual farmers and groups under the first phase of the facility,” he said.
Bichi explained that farmers who wished to take the third phase of the loan must provide collateral, while the first and second phases of the facility do not require any collateral.
He urged farmers planning to take the facility to ensure proper utilisation of the fund so as to achieve the desired objective.
Bichi commended the Federal Government for the support it had been giving to farmers, particularly farmers engaged in dry season farming.
“Many people in the state have embraced irrigation farming because of the Federal Government’s support to farmers in the state.
“The support to irrigation farmers is based on the government’s plan to stop the importation of rice in the near future,” he said.