Environment

Sokoto govt, Zenith Bank secure N4bn loan for farmers

The Sokoto State Government in collaboration with Zenith Bank has secured a N4 billion loan for farmers in the state.

The Sokoto State Governor, Aminu Tambuwal, made this known while launching the sale of 10,000 metric tons of subsidised fertiliser for the 2022/2023 farming season in the state capital on Monday.

Tambuwal said no fewer than 16,000 farmers of rice, wheat, and tomato in the state would benefit from the loan.

He said the loan was obtained from the Zenith Bank with the support of the Central Bank of Nigeria (CBN) to support farming activities, adding that the fertiliser would be subsidised at a lesser price of N13,000 per bag.

READ ALSO: Zulum visits farms in Borno, seeks solution to farmers’ problems

“The NPK brand of fertiliser was purchased at market price but would be sold to farmers at subsidised rates of N13,000 per bag.

“The essence is to motivate farmers for increased production,” the governor said.

Tambuwal further urged the benefiting farmers to utilise the commodities in their farms and not resell them at a market price for little gain.

Also speaking at the event, the Sokoto State Commissioner for Agriculture, Prof. Aminu Illela, said the state government’s objective was to stimulate agricultural production for food security and job creation while transforming farming to commercial from subsistence.

Illela said the current administration facilitated the establishment of fertiliser blending plants from local and foreign investors, rice, and other product processing industries in the state.

The Star

Aminu Adamu Naganye

Recent Posts

PDP: We’ll resist attempt to impose Seyi Tinubu as Lagos governor

The Lagos State chapter of the opposition Peoples Democratic Party (PDP) has vowed to stop…

2 hours ago

NDLEA arrests Chinese for cocaine dealing, seizes N4.3bn drugs at ports

The operatives of the National Drug Law Enforcement Agency (NDLEA) have arrested a Chinese man,…

2 hours ago

Businessman excretes 90 wraps of cocaine at Enugu airport

A 50-year-old businessman, Osuoha Christian Iheanacho, has excreted 90 wraps of cocaine after his arrest…

2 hours ago

PDP govs to Tinubu: Review your economic policies, Nigerians are suffering

The Peoples Democratic Party (PDP) Governors’ Forum has urged President Bola Tinubu to review his…

7 hours ago

NECO accredits foreign schools for SSCE, BECE

The National Examinations Council (NECO) has accredited additional foreign schools to write the Senior School…

8 hours ago

Guardiola suffers 5th straight defeat for first time as Spurs thrash Man City 4-0

Manchester City manager Pep Guardiola suffered a fifth straight defeat for the first time in…

18 hours ago

This website uses cookies.