✕ CLOSE Online Special City News Entrepreneurship Environment Factcheck Everything Woman Home Front Islamic Forum Life Xtra Property Travel & Leisure Viewpoint Vox Pop Women In Business Art and Ideas Bookshelf Labour Law Letters
Click Here To Listen To Trust Radio Live

FG targets five percent interest rate loans for farmers

The Federal Government is targeting five percent interest rate loans for farmers through the reformed Bank of Agriculture (BOA) in order to achieve food sufficiency in the country.

The minister of Agriculture and Rural Development, Audu Ogbeh said the reform which is expected to be concluded by December will have farmers as shareholders of the bank and will give out loan with interest rate of 5% for their farming.

Ogbeh stated this on Monday in Dutse, Jigawa State at the special Town Hall meeting on Agriculture organised by the ministry of Information and Culture.

SPONSOR AD

He said the low interest rates would be achievable with the restructuring of the Bank of Agriculture.

The minister noted that some of the problem facing the country was as a result of abandonment of rural dwellers who account for the highest population farmers in the country.

He however said the current administration is out to correct it by investing in agriculture; adding that ten governors have shown interest to ensure agriculture revolution in the country.

While commenting, the Emir of Dutse, Dr Nuhu Mohammed Sanusi decried that his emirate has been collecting loans with interest rates as high as 19% as opposed to the apex bank’s claim of single digit interest rate, adding that his emirate has approached the CBN on the issue but to no avail.

He also encouraged the FG to look into the real problems of Agriculture as the sector goes hand in hand with infrastructural development.

He noted that Agricultural sector will improve significantly with efficient transportation system especially the rail services.

The emir, who stressed the need for more research education for farmers especially women who make up 50% in the rural areas, said with their low level of education, they cannot benefit from the new technology to improve their farming.

Sponsored

Discover the latest trends on Temu! Shop mobile phones, fashion, beauty, home essentials & more. Start exploring now!


Click here to learn how it works.

Sponsored

Unlock AI's potential! Get top prompts for content, blogs, social media, research, draft proposals and more. Boost creativity start using AI tools today!


Click here to learn how it works.

Sponsored

Start Affiliate Marketing Today! Learn step-by-step how to set up a blog, find programs, create links, and earn money—beginner-friendly guide inside!


Click here to learn how it works.

Sponsored

Join our FREE WEBINAR! Discover the 3-step formula to turn WhatsApp into a cash-generating machine. Sign up now and start earning!"


Click here to learn how it works.

Sponsored

Master Facebook Ads! Learn to set up Business Manager, run campaigns, optimize budgets, and drive sales. Start your journey to ad success today!"


Click here to learn how it works.

Sponsored

Unlock your confidence and attract the love you deserve! Learn how to become irresistible to women—start your transformation today!"


Click here to learn how it works.

Join Daily Trust WhatsApp Community For Quick Access To News and Happenings Around You.