Kogi distributes N23.2bn loan to 145,000 farmers

Kogi State Governor Idris Wada

Idris Wada, former governor of Kogi State

Governor Idris Wada of Kogi State
Governor Idris Wada of Kogi State

The Kogi State Government says it has begun the distribution of N23.2 billion loan and grants to 145,000 farmers in rural areas of the state.

A statement issued in Lokoja on Sunday by the Special Adviser to the State Governor on Media, Mr Jacob Edi, said the grant would be given to farmers on the platform of Nigerian Agricultural Payment Initiative e- wallet system.

According to the News Agency of Nigeria (NAN), the loan aspect of the package is being disbursed in phases by the state government in partnership with the Kogi Farmers Cluster Development Union.

It said that 145,000 rural farmers selected across the 21 local government governments in the state had been listed to benefit.

IT said that at the inauguration of the disbursement at the weekend, the statement said Governor Idris Wada, described the development as a significant step in the country’s quest to achieve food sufficiency.

The statement also quoted the governor as saying that the loan, apart from boosting food production would enhance wealth creation among rural farmers.

It noted that each of the farmers would receive N160, 000-loan which would be paid back with five per cent interest.

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It said that the governor explained that the adoption of e- wallet platform to disburse the loans was to eliminate corruption and ensure that the only genuine farmers had access to the facility.

According to it, the governor commends the leadership of the Kogi Cluster Farmers Development Union for keying into the Agricultural Transformation Agenda of the state government.

It also noted that Wada urged the union to sustain its interest in the sector which he said remained the only way out of the country’s unemployment and economic problems.

The statement quoted Mr Alfred Okeme, the president of the union as saying that the beneficiaries were carefully selected among rural farmers.

“Farmers will only pay back N56, 000 out of the N160, 000 being given each of them because N104, 000 of the amount was a grant.

“The N56, 000 will be paid back with five per cent interest from the proceeds accruing from produce buy-back from the farmers by the state government,” it quoted Okeme as saying.

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