Agripreneur: Edo secures N5 billion loan, set to help small-holder farmers

Date:

Share post:

The administration of Governor Godwin Obaseki of Edo state has secured a N5 billion loan from the Central Bank of Nigeria (CBN) to improve agribusinesss in the state. This was disclosed, yesterday, by the Special Adviser to the Governor on Agriculture, Forestry and Food Security Programme, Prince Joe Okojie.

The loan, which was secured at single-digit interest of 9%, will be disbursed to boost food security and help small-holder farmers in the state.

Speaking about the agripreneur effort, Okojie said, “The CBN has set aside N40 billion for farmers at a single-digit interest rate of nine per cent and the Edo State government has been able to secure N5 billion for our farmers.”

He added, “We have about 1,700 farmers across the three senatorial districts and each farmer will get 1,000 birds, bringing the total to 1.7 million birds. The governor wants to make sure he brings prosperity to all Edo people, which inspired this scheme.”

The Central Bank of Nigeria (CBN) has been undertaking bold initiatives to ensure the economy does not crack at the instance of a failing global oil market, a major source of national revenue. The agro industry is seen as an easy area to explore to generate new export opportunities and forex for the nation.

Toyin Afilaka
Toyin Afilaka
Toyin Afilaka writes with simplicity and insight. He aims to enrich the Nigerian small business landscape. Through Hustle24 he connects entrepreneurs with information about new policies, enterprise solutions and opportunities that will aid their 'hustle'. He has written extensively for CobraReview, a product review portal, and served as a lead project manager for MarketingMix where he consulted as PR consultant for MTN Project Fame and Business Next Titan etc.

LEAVE A REPLY

Please enter your comment!
Please enter your name here
Captcha verification failed!
CAPTCHA user score failed. Please contact us!

Related articles

A Commitment to Excellence, Hard Work, Integrity, the Hallmark of Business – Bartholomew Egbochie

Bartholomew Egbochie is the CEO of ATCO Homes, a fast-rising Nigerian real estate company. Egbochie’s testimonials reveal exceptional...

The Science of Getting Rich – Wallace

To become rich, you have to make a conscious effort and follow certain natural laws. These are the...

The Financial Truths No One Tells You in Your First 2 Years of Entrepreneurship

By Hope Horner When I first started my business, I approached budgeting with the optimism of someone who hadn't...

Focus more on cultivating your mindset instead of strategy – Joan Ekobena, CEO Homecare Solutions Inc

In business school, I was made to believe that strategy is everything—that if you have an ironclad strategy,...