NAN-AE-11
Loan
Kano, Oct. 18, 2016(NAN) The Kano State Government has commenced the disbursement of N1 billion Commercial Agriculture Loan to beneficiaries in Kano.
The News Agency of Nigeria (NAN) reports that the CBN in conjunction with Kano State Government granted the loan to boost food production in the state.
Kano State Governor, Dr Abdullahi Ganduje, commenced the disbursement at a workshop for the farmers on Tuesday in Kano.
The governor said that 500 associations with more than 4,000 membership would benefit from the scheme.
He said that the programme was aimed at increasing agricultural output, food security and employment in the state.
Ganduje also added that the loan scheme was established to promote wheat farming, rice, meat production, diary and cotton farming in the state.
The governor said that the state government would ensure strict monitoring of the loan to ensure repayment by beneficiaries.
In a remark, the representative of CBN Governor, Alhaji Abdulkadir Ahmed, said that the loan would enhance the value chain production of target areas, such as wheat, livestock and poultry.
Ahmed said that beneficiaries had two years to repay the loan.
He, however, appealed to beneficiaries to make judicious use of the loan and ensure prompt repayment to enable others to benefit from the scheme.
Alhaji Sani yadakwari, who spoke on behalf of the beneficiaries, thanked the state government and CBN for the gesture.
He then promised that the beneficiaries would make best use of the loan. (NAN)
MNT/AFA
Edited by Felix Ajide
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