The Niger State Commissioner for Agriculture Prof. Kuta Yahaya has commended Keystone Bank Limited for its unwavering support to the development of agriculture in the state.
Keystone Bank is granting the facility under Agricultural Credit Guarantee Scheme Fund, (ACGSF), in which there is a 75 per cent Central Bank of Nigeria (CBN) guarantee.
The initiative is also in partnership with RHA consortium and the Niger State Rice Investment consortium, the organiser of the loan disbursement.
Speaking during the commencement of the disbursement of N77.7 million loans to 37 rice producing cooperative societies in the state, Yahaya commended Keystone Bank for supporting agriculture in the state.
He noted that “the private sector initiative and expertise that Keystone Bank brings to the table ensures that giving facilities to farmers is one of the ways government could consolidate on rice production and food security.”
In his address, the Managing Partner of the Rice Consortium, Mr. Godfrey Ajayi said the project was designed to cover a total of 100,000 hectares of farmland as well as to capture 50,000 farmers with 30,000 hectare targeted for this year.
Speaking further, Yahaya said the state government, through the ministry of Agriculture, had given 25 units of tractors and power generators to be distributed to centres across the state for the original goal in rice production to be achieved.