The Bankers Committee through the Central Bank of Nigeria [CBN] has approved twenty-five billion Naira at five per cent to eight thousand applicant farmers across 36 states.
The goal, according to the Committee, is to reach one hundred, eighty-five thousand farmers across the country and raise them out of poverty within a few years.
Further explaining the reason behind the decision, the Committee stated that small holder farmers in Nigeria can hardly grow with thirteen per cent interest loan accessible from commercial banks.
Armed with the financial push the farmer are expected to increase production and agricultural output.
See photos:
In a related development, rice revolution has hit the creeks of Bayelsa State as Tankobos Rice Mill improves with four medium-scale milling machines , one hundred workers, and a fifty-three-hectare rice farm.
The latest effort is expected to fill in the void created from border closure and the rice shortfall owing to the closure.
See photos of the newly improved Tankobos Rice Mill in the creeks of Bayelsa State below:
