BoA to disburse NGN 250bn to smallholder farms - LivestockTrend


Monday, 29 April 2019

BoA to disburse NGN 250bn to smallholder farms

The NGN250bn in recapitalization funds of the Bank of Agriculture is targeted towards supporting individuals who own small holder farms across the country. This was revealed by the agriculture bank in a statement to pressmen.

The Managing Director of the Bank of Agriculture, Dr. Kabiru Adamu revealed that the bank would make six-digit loans available to farmers at 9% interest.

He also stated that the bank’s restructuring was near completion and would soon be fully implemented. This, he said, would attract investors from all over the world to the country.

Dr. Adamu explained that the recapitalization process would be completed in fourteen weeks, after which the bank would be ready to disburse the support funds to small holder farms through its branches nationwide.

He further stated that the bank had been in existence for well over 40 years and has since been committed to the growth of the country’s agricultural industry.

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