Bauchi to establish 3 farming settlements, disburses N485m loan

Bauchi State government has disbursed N485 million loans to small scale farmers’ co-operatives in the state. Two hundred and sixty four registered agro-allied co-operatives would benefit from the loan to facilitate the development of the agricultural value chain in the state. The loan was facilitated by the Central Bank of Nigeria (CBN) as part of […]

Bauchi State government has disbursed N485 million loans to small scale farmers’ co-operatives in the state.
Two hundred and sixty four registered agro-allied co-operatives would benefit from the loan to facilitate the development of the agricultural value chain in the state.
The loan was facilitated by the Central Bank of Nigeria (CBN) as part of the N220bn federal government’s intervention fund for MSMEs.
It was received for disbursement on behalf of the farmers’ co-operatives by agro-allied and services which requested for N50bn to support agro-allied societies and unions across the six geo-political zones.
Speaking at the occasion in Bauchi, Governor Mohammed Abdullahi Abubakar said his administration would give priority to farming, adding that in no distant future it will become the backbone of Nigeria’s economy.
He said that his administration will continue to support farmers in order to increase productivity and raise the state’s revenue earnings through agriculture.
He said: “Our government’s core focus is establishing agricultural value chain with a view to making agriculture attractive to the youth and enhance economic impact.”
Abubakar informed that plans were underway to establish farm settlements in the three senatorial districts in the state.
According to him, the farm settlements will be established in Miya, for Bauchi Central, Nabordo for Bauchi South and Azare for Bauchi North senatorial district.
He added that the government was poised to introduce modern and mechanised farming method to increase efficiency and productivity in agricultural sector.
In her response, Professor Victoria Abike Adesuyi, the national coordinator of agro-allied co-operative and entrepreneurship matters, advised members of the co-operatives to organise themselves to easily access the loan.
She commended the Bauchi State government for its steadfastness in ensuring the disbursement of the loan to its people.
Speaking on behalf of the beneficiaries, Malam Shehu Dalladi, the Bauchi State Coordinator of Agro-Allied Co-operative Societies, expressed the commitment of his members to utilise the loan and develop the agricultural sector in the state.