The Kogi State Government says it has begun the distribution of N232 million loan and grants to 145,000 farmers in rural areas of the state.
A statement issued in Lokoja on Sunday by the Special Adviser to the State Governor on Media, Mr. Jacob Edi, said the grant would be given to farmers on the platform of Nigerian Agricultural Payment Initiative e-wallet system.
According to the statement, the loan aspect of the package is being disbursed in phases by the state government in partnership with the Kogi Farmers Cluster Development Union.
It said 145,000 rural farmers selected across the 21 local government in the state had been listed to benefit.
The statement said Governor Idris Wada described the development as a significant step in the country’s quest to achieve food sufficiency.
The statement also quoted the governor as saying that the loan, apart from boosting food production, would enhance wealth creation among rural farmers.
It noted that each of the farmers would receive N160,000 loan which would be paid back with five per cent interest.
It said the governor explained that the adoption of e-wallet platform to disburse the loans was to eliminate corruption and ensure that only genuine farmers had access to the facility.
According to it, the governor commends the leadership of the Kogi Cluster Farmers Development Union for keying into the Agricultural Transformation Agenda of the state government.
It also noted that Wada urged the union to sustain its interest in the sector which he said remained the only way out of the country’s unemployment and economic problems.