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CBN guarantees N122.6bn agric loans
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The Central Bank of Nigeria (CBN) has guaranteed a total of N122.6 billion loans under the Agricultural Credit Guarantee Scheme Fund (ACGSF) as at end 2020.
Chairman of the Fund’s Board, Mr. Stephen Okon, disclosed this, in Abuja, yesterday, at the National Award Ceremony for the Best Farmer of the Year 2020 under the scheme.
According to him, “In 2020, a total of 30, 267 loans valued N4. 32 billion were guaranteed, while the cumulative loans guaranteed from inception (1977) to 2020 stood at 1,180,000 valued N122.632 billion.”
Okon said that the Fund has positively impacted on agriculture and agri-business in the country, especially since the increase of its share capital from N3 billion to N50 billion in line with current economic realities.
James Emejo in Abuja
The Central Bank of Nigeria (CBN) has facilitated N122.63 billion as loans to farmers under its
Agricultural Credit Guarantee Scheme Fund (ACGSF), since inception till December 2020, the Chairman of ACGSF Board, Mr. Stephen Okon, has said.
Okon told journalists yesterday in Abuja at the National Awards Ceremony for the Best Farmer of the Year 2020 under the ACGSF, that 30,267 of these loans, worth N4.32 billion, were guaranteed last year.
Also, CBN Director, Development Finance Department, Mr. Yusuf Yila, stated that the apex bank is working to provide farmers with some Brazilian seed variety to boost rice production from the current four million metric tonnes per hectare to about nine million metric tonnes per hectare.
Lagos lauds farmers for contributing to food security Lagos lauds farmers for contributing to food security
• As Bashorun, others clinch Year 2020 award
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Lagos State government has commended farmers for their contributions, hard work and vigour in ensuring that the food supply chain was not broken especially during the COVID-19 lockdown, saying that their contributions were greatly recognised and appreciated.
The State Commissioner for Agriculture, Ms Abisola Olusanya, gave this commendation at the December edition of the Eko City Farmers’ Fair and Farmers’ Appreciation Day held on Sunday at the Ndubusi Kanu Park, Alausa, Ikeja.
At the event, Dr Yakub Bashorun emerged as the Best Farmer of the Year, Samuel Omitunde, emerged as the Most Promising Farmer of the Year and Mrs Sola Ogunleye emerged as the Best Woman in Agriculture.
Mobile application to promote organic farming in the Nilgiris
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It will provide online support to farmers willing to adopt organic farming
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The Nilgiris Collector J. Innocent Divya launching the “Organic Nilgiris” mobile application at a function held in Udhagamandalam on Friday. | Photo Credit:
M. Sathyamoorthy
It will provide online support to farmers willing to adopt organic farming The Nilgiris Collector J. Innocent Divya on Friday launched a mobile application developed by the Department of Horticulture to promote organic farming in the district.
Named ‘Organic Nilgiris’, the mobile application will provide online support to farmers willing to adopt organic farming, she told mediapersons at the Ooty Botanical Garden.