Katsina signs $5.8m tractor pact with Mahindra Group

In Nigeria, the Government of Katsina State on Friday said it has signed a pact with Mahindra Group to purchase 225 tractors worth N2bn ($5.8million). This aims to boost food production in the state.


According to the Deputy Governor of the state, Mannir Yakubu, the tractors would be distributed to farmers on a loan basis.

He said under the agreement, the state government in collaboration with the Nigeria Incentive Based Risk-sharing System for Agricultural Lending (NIRSAL) and Access Bank will serve as guarantor and would provide the sum of N1.6 billion ($4.7 million) while “the 225 benefitting farmers will provide N400 million ($1.1 million), which will serve as their 20% contribution, before collecting the tractors.”

“The company has supplied the tractors through its agent, Spring Field Agro Nigeria Ltd., based in Ibadan. The tractor scheme we are launching today will be in phases, and we intend to procure about 361 tractors on the long run, which will translate to one tractor for each ward in the state. The scheme is in partnership with Spring Field Agro Ltd., as the vendors, Machindra Company of India, the manufacturers while the Tractors Owners and Operators of Nigeria (TOOAN),will serve as obligators,” he said.

Speaking in the same vein, Abba Abdullah, the Special Adviser to Governor on Agricultural Development, stated that the goal of the new tractor policy is to stimulate mechanized farming in the state.

He added that the tractors would only operate within the state, so as to avoid past mistakes. “The company has installed a tracking device that will prevent the tractors from being taken out of the state,’’ he added.


Ecofin Agency

Comments

Post a Comment

Popular posts from this blog

Agric forum to encourage greater technology use by women

Image
Organizers of a one-day agricultural forum for women in Benin, the Edo State capital, have said the event will focus on increasing the awareness of available agricultural and outreach technologies for women in agriculture. The forum which will be anchored by Market Development Programme in the Niger Delta (MADE) with funding from UK Aid, is collaborating with Markets II, funded by USAID and Foundation for Partnership Initiatives in the Niger Delta, PIND and the Edo State Cooperative Farmers’ Agency is being held for womenas part of activities to mark this year’s International Women’s Day. Mr. Fidelis Ekom, MADE’s Communications and Advocacy Manager, in a statement at the weekend said the forum also seeks to facilitate mindset change for women in the adoption of modern technologies and to facilitate engagement between women in agriculture and relevant value chain actors. Ekom said the forum will bring together women farmers in aquaculture, cassava, palm oil, poultry, hon
Read more

7 FEPSAN members to produce 1m tonnes under Presidential Fertiliser Initiative

Image
Seven active blending companies within the Fertiliser Producers and Suppliers Association of Nigeria (FEPSAN) have been revived and are among the 1st of five batches that would produce 1 million tonnes of fertiliser under the Presidential Fertiliser Initiative, Thomas Etuh, President of FEPSAN has said. Etuh who disclosed this while speaking on Presidential Fertiliser Initiative noted that most of the plants owned by FEPSAN members are being revived after being dormant for over a decade. He expressed the hope that more plants would join the initiative before the end of April “Some of the blending plants which have already been supplied with raw materials including phosphate from Morocco and are blending include Fertiliser and Chemicals Ltd, Kaduna, producing 300,000 metric tonnes; Al-Yuma Fertilizer Company (300,000 metric tonnes) in Madobi-Kano; Kano Agricultural Supply Company, supplying 15 trailers daily and Golden Fertiliser based in Lagos. “Others blending plants ha
Read more

Saudi investors identify Kwara as host for proposed Agric City

Image
In a move that will further boost food security in Nigeria and contribute to the diversification agenda of the government, Zain Al-abdin Group, an investment company based in Saudi Arabia, has announced plans to set up a multi-purpose Agric City in Kwara State. Speaking to newsmen at the end of his visit to the Kwara State Governor, Alhaji Abdulfatah Ahmed in Ilorin, Zain Al-Abdin Nafawi, Chairman of Zain Al-abdin Group said the city or settlement will comprise a cluster of farms specialising in cultivation, processing and export of rice, maize and vegetables. Alhaji Abdulfatah Ahmed, Governor, Kwara State   Governor Ahmed in his welcome speech to the Saudi delegation noted that the multimillion dollar investment is in line with the state government’s plan to broaden the state’s economy, feed the people and provide feed stock for industries. He expressed delight at the decision of the Saudi group to invest in Kwara State. Nafawi who led the delegation including other
Read more