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BOA Disburses ₦2.4bn Loan to Farmers

The Bank of Agriculture (BOA) on Thursday said that it had disbursed N2.4 billion loan to farmers participating in the Central Bank of Nigeria’s (CBN) Anchor Borrowers’ Programme (ABP) in Niger.

BOA’s Managing Director, Dr Kabiru Adamu, made the disclosure when visited Gov. Abubakar Bello at Government House, Minna, the News Agency of Nigeria reports.

He said that Small and Medium Enterprises (SMEs) in the state would also benefit from the loans.

AfDB Tasks African Leaders to Invest in Agriculture

Dr Akinwumi Adesina, President, African Development Bank (AfDB), says Africa must embark on agriculture industrialisation and its value chain to transform the continent’s economy.

Adeshina made the call in his goodwill message to the ongoing Feed Nigeria Summit on Wednesday in Lagos.

The theme of the summit organised by AgroNigeria is Feed Nigeria to feed Africa.

Adesina urged governments to provide incentives to food and agribusiness companies located in rural areas through establishment of staple crop processing zones.

Farmers to Benefit from IFAD’s $93m

The International Fund for Agricultural Development (IFAD) has set aside $93.5 million to support 727,000 farmers in seven states in Nigeria.

The assistance is on the platform of IFAD’s Climate Change Adaptation and Agribusiness Support Programme (CASP).

Alhaji Lawal Idah, the National Programme Coordinator of CASP, said in Katsina on Thursday the states are Sokoto, Kebbi, Katsina, Jigawa, Yobe, Borno and Zamfara.

Idah said that the project would be implemented in 727 villages across 104 local government areas in the seven states.

Poisonous Cassava: NAFDAC to Sensitise Farmers, Others

The National Agency for Food and Drug Administration and Control (NAFDAC) says arrangements are on to sensitise farmers in Kogi and Ondo on how to handle food chain from the farms to consumers’ table.

The NAFDAC Director, Special Duties, Dr Abubakar Jimoh, who spoke to the News Agency of Nigeria in Abuja on Sunday, said operators of fast food outlets in both states would also be trained.

The sensitisation is coming on the heels of the death of nine people after consuming “amala’’ meal made from poisonous cassava flour.

China Offers Nigeria $4.5b Loan for Farm Machinery

China has offered Nigeria a $4.5 billion loan for agricultural machinery and infrastructure, a Nigerian state governor said on Tuesday.

Zamfara state governer Abdulaziz Yari said the loan had a 20-year repayment period at an interest rate of 1 percent.

"China is giving us a credit line of $4.5 billion for the procurement of strategic machinery for rural development and agriculture," Yari, who chairs the forum of Nigeria's state governors, told reporters after a meeting with the president and agriculture minister.

Poultry Farmers Decry Glut of Eggs

The glut of eggs in Plateau state is likely to discourage farmers from further production and cause a collapse in the poultry sector.

The Poultry Association of Nigeria (PAN), has therefore, appealed to the state Government to intervene and mop up the surplus eggs from the farmers.

Mr John Dasar, Chairman of the association, told the News Agency of Nigeria in Jos, that the price of egg had been on a steady decline.

Nigeria, 3 others face famine threat as global food crisis deepens

Global food crises worsened significantly in 2016 and conditions look set to deteriorate further this year in some areas with an increasing risk of famine, a report said on Friday.

"There is a high risk of famine in some areas of north-eastern Nigeria, Somalia, South Sudan and Yemen because of armed conflict, drought and macro-economic collapse," the Food Security Information Network (FSIN) said.

Agriculture: FG to introduce ‘Invent Your Future’ scheme, restructure BOA

Nigeria is to restructure Bank of Agriculture (BOA) to facilitate farmers’ access to loans and encourage youths’ participation in farming.

The Minister of Agriculture and Rural Development, Audu Ogbeh, said that the move was to encourage farming and boost food production.

According to Ogbeh, the bank’s restructuring will bring down the interest rate on loans for farmers and young people who want to go into agro-businesses.

“Once we restructure the Bank of Agriculture, the interest rate will not exceed seven per cent.

World Bank to combat hunger in Nigeria, 5 Others

World Bank Group President Jim Yong-Kim on Thursday said the bank was working toward raising 1.6 billion dollars to build social protection systems to end food insecurity in sub-Saharan Africa and Yemen.

In a statement made available to newsmen by the Head of Communications, World Bank Nigeria in Abuja, Mrs Olufunke Olufon, Yong-Kim said about 20 million people in Nigeria, South Sudan, Somalia and Yemen were on the “tipping point” of famine.

“We at the World Bank Group stand in solidarity with the people now threatened by famine.

Government to give attention to Poultry Business

Poultry business will be given necessary government attention so as to maximise the potentials of the industry, according to the Acting President, Prof. Yemi Osinbajo SAN

Speaking with a delegation of Poultry Association of Nigeria which paid him a courtesy visit recently in his office, the Acting President wondered why poultry business seemed to have been ignored even as agriculture is resurgent. He acknowledged the need to address some of the challenges facing the industry, because it is a significant contributor to the country’s economy

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