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.