Edo Assembly approves N11bn loan request to boost agriculture

In order to boost agriculture, create wealth and jobs in the Edo State, the Edo State House of Assembly has given the go-ahead to the state government to secure loan facilities of N11 billion from the Central Bank of Nigeria (CBN) and other sources.
 
Godwin Obaseki (right), Edo State Governor
According to the state government, N6 billion will be provided by the CBN under the Anchor Borrower’s Scheme while the remaining N5 billion will help finance agriculture related projects in the state. Farmers in the state will be encouraged to access loans under the Anchor Borrower’s Scheme.

The state government will use the remainder to develop 5,000 hectares of farms and establish five greenhouses for tomatoes and vegetables as well as 120 fish ponds.

In addition to approving the loans, the assembly also approved the governor’s request to access the Federal Government Special Intervention on Fertilizer programme. This scheme aims to make fertilizer more available to farmers and revive the local fertilizer manufacturing industry in the country.


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