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CBN to offer cotton farming loan facility to 15,000 farmers in Jigawa

CBN to offer cotton farming loan facility to 15,000 farmers in Jigawa

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BY SHEHU MUSA, Dutse.

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About 15,000 farmers in Jigawa State are to benefit from Federal Government Cotton Production Program of the Central Bank of Nigeria, the state Chairman Jigawa Chapter of the National Association of Cotton Farmers, Alh. Lawal Musa Kazaure has revealed.
Last year about 40,000 farmers were registered for the program out of which 30,000 scaled through and were provided with a loan facility of N174,000 each in addition to the provision of farming accessories which included seeds, fertilizers and pest chemicals of different formats for the production of 686 kg of Cotton.
Kazaure stated that arrangements have reached an advanced stage towards short listing and approving the loan for the beneficiaries. He cautioned all those that will enjoy the loan this year to have fear of God in making repayments within the stipulated period of time for others to benefit as such facility is a revolving loan for the enhancement of cotton production in the country.
Furthermore, he stated that only those that did not default in repayment in preceding years will qualify for this year’s facility.
Those screened will be provided the loans through a registered commercial bank with CBN as a guarantor.
According to him each approved farmer for the loan facility is expected to receive N153,750 alongside seeds, sprayers and chemicals.
Kazaure enjoined all beneficiaries to utilize the gesture for the purpose intended so as to boost their economic status, reduce poverty and increase their potentialities for self reliance.

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