• About
  • Privacy & Policy
  • Terms
  • Contact
Friday, March 5, 2021
Breaking News Nigeria, Latest Nigerian News
  • Home
  • News
  • Tech
  • Entertainment
  • Lifestyle
  • Review
No Result
View All Result
  • Home
  • News
  • Tech
  • Entertainment
  • Lifestyle
  • Review
No Result
View All Result
Breaking News Nigeria, Latest Nigerian News
No Result
View All Result
Home News Business

Nigeria announces zero-interest financing for 2 million farmers

by Enyi Ominyi
June 17, 2020
in Business
0
0
zero-interest financing

A farm (Photo by Jan Kopřiva on Unsplash)

Share on FacebookShare on Twitter

Zero-interest financing comes under Nigeria

To mitigate the impact of COVID-19 on Nigeria’s agriculture sector and boost food production, Nigeria will provide zero-ingterest financing to at least 2 million smallholder farmers across the country.

This was announced on Tuesday as part of the Nigerian Government’s Agric for Food and Jobs Plan, AfJP.

Nigeria’s Minister of Agriculture and Rural Development, Sabo Nanono, told journalists at a press briefing in Abuja that the AfJP scheme would be a joint venture including the Federal Ministry of Agriculture and Rural Development, the Central Bank of Nigeria, private sector operators and farmers.

Also, read #NaijaKitchen: How to prepare spicy vegetable chicken

“This programme will be achieved through investment in the sector by way of providing zero-interest input financing options such as fertilisers and seeds to farmers across the 36 states and the Federal Capital Territory to produce harvests that could be sold domestically and internationally,” he stated.

Nanono said the zero-interest financing programme, which the ministry had perfected plans to inaugurate, would run for a duration of 12 months with an aggregate of two million hectares of land.

He explained that the zero-interest financing scheme would link farmers to markets for off-take through out-grower schemes and improve crop yields per hectare.

He said: “This will, in turn, ensure food security in the post-COVID-19 era and position smallholder farmers to be drivers of economic growth by evolving from subsistence farming to commercial production.

Read more: Nigeria’s poised to implement new electricity tariff by July despite COVID-19

“The AFJP targets two million smallholder farmers across the 36 states of Nigeria and the FCT and aims to produce 10 million tonnes of food which include carbohydrates, animal protein and edible oils within the next 12 months.”

According to Nanono, priority crops and livestock targeted by the AFJP for local markets include rice, maize, sorghum, groundnuts, cowpea, cassava, and millet.

Others include horticulture, palm kernel and cotton, while sesame seeds, hibiscus, cocoa, hides and skin, horns and hoofs are targeted for export.

Tags: Agriculturefarmersfoodzero-interest financing

Get real time update about this post categories directly on your device, subscribe now.

Unsubscribe
Previous Post

Nigeria’s poised to implement new electricity tariff by July despite COVID-19

Next Post

Nigeria’s dollar reserves down by $129.83 million in 7 days

Related Posts

FlightResumption: Passengers adhere to guidelines
Breaking News

PHOTOS: See how passengers observe physical distancing as flights resume operations

July 8, 2020
Fidelity Bank appoints Chike-Obi as Chairman, Board of Directors
News

Fidelity Bank appoints Chike-Obi as Chairman, Board of Directors

July 7, 2020
Access Bank offers cash prizes, grants to customers through DiamondXtra
Business

Access Bank offers cash prizes, grants to customers through DiamondXtra

July 8, 2020
Former Irish President to lead Adesina probe
News

Former Irish President to lead Adesina probe

July 3, 2020
Zenith Bank ranks best in Nigeria’s tier-one capital bank
News

Zenith Bank ranks best in Nigeria’s tier-one capital bank

July 2, 2020
Petrol sold to Nigeria from Europe worse than black market fuel
News

Petrol sold to Nigeria from Europe worse than black market fuel

July 2, 2020
Next Post
dollar reserves

Nigeria's dollar reserves down by $129.83 million in 7 days

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

Stay Connected

  • 5 Followers
  • Trending
  • Comments
  • Latest
Abeokuta Grammar School is 112-year old today

5 facts about 112-year old Abeokuta Grammar School

July 12, 2020
BREAKING: Magu fires back, asks panel to probe AGF on auction of recovered assets

BREAKING: Magu fires back, asks panel to probe AGF on auction of recovered assets

July 12, 2020
BREAKING: President Buhari approves Magu’s  suspension – Malami

BREAKING: President Buhari approves Magu’s suspension – Malami

July 10, 2020
buraimoh

JUST IN: Lagos lawmaker, Tunde Buraimoh is dead

July 10, 2020
Hushpuppi hires experienced Chicago criminal defence lawyer

US lawyer reveals how Hushpuppi made his money

July 10, 2020
Daring blogger insists Osinbajo collected N4bn from Magu, asks panel to publish embattled EFCC chief’s confessions

Daring blogger insists Osinbajo collected N4bn from Magu, asks panel to publish embattled EFCC chief’s confessions

July 10, 2020

Recent News

Abeokuta Grammar School is 112-year old today

5 facts about 112-year old Abeokuta Grammar School

July 12, 2020
BREAKING: Magu fires back, asks panel to probe AGF on auction of recovered assets

BREAKING: Magu fires back, asks panel to probe AGF on auction of recovered assets

July 12, 2020
BREAKING: President Buhari approves Magu’s  suspension – Malami

BREAKING: President Buhari approves Magu’s suspension – Malami

July 10, 2020
buraimoh

JUST IN: Lagos lawmaker, Tunde Buraimoh is dead

July 10, 2020
Breaking News Nigeria, Latest Nigerian News

Follow Us

Browse by Category

  • Athletics
  • Breaking News
  • Business
  • Business Editor's Pick
  • Entertainment
  • Featured
  • Food
  • Football
  • General
  • Health
  • Lifestyle
  • Mobile
  • Movie
  • Music
  • News
  • Politics
  • Politics Featured Section
  • Review
  • Science
  • Sports
  • Startup
  • Tech
  • Technology
  • Technology Featured Section
  • Uncategorized
  • World

Recent News

Abeokuta Grammar School is 112-year old today

5 facts about 112-year old Abeokuta Grammar School

July 12, 2020
BREAKING: Magu fires back, asks panel to probe AGF on auction of recovered assets

BREAKING: Magu fires back, asks panel to probe AGF on auction of recovered assets

July 12, 2020
BREAKING: President Buhari approves Magu’s  suspension – Malami

BREAKING: President Buhari approves Magu’s suspension – Malami

July 10, 2020
  • About
  • Privacy & Policy
  • Terms
  • Contact

© 2020 Nigeria Today News - All rights reserved.

No Result
View All Result

© 2020 Nigeria Today News - All rights reserved.

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

*By registering into our website, you agree to the Terms & Conditions and Privacy Policy.
All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.

Subscribe With Nigeria Today News