The Niger state government is set to take a N2.5 billion Central Bank of Nigeria (CBN) loan at 9% interest rate to purchase excess grains to as a measure curb for future scarcity of produce.
The State Commissioner of Agriculture, Alhaji Kabir Abbas, made this known while briefing the media after the State Council
meeting held in Minna.
He said that another N3 billion has been earmarked for the purchase of 30,000,000 metric tons of fertilizers for the farmers to be sold at subsidized rates of N5,500 per bag.
Abbas explained that it is a federal government intervention which will also ensure availability of the inputs for the farmers, while money realized at the local and ward levels are to be remitted back to the state.
He assured that the whole process would not be politicized just as what had happened in the past, noting that the state will take advantage of its agricultural land mass for the production of agricultural produce.
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