The Niger State Government is to establish a state cooperative bank for agriculture to enable farmers to have quick and easy access to soft loans for agricultural purposes.
Governor Mohammed Umaru Bago disclosed this during the flagged-off of free distribution of various agricultural inputs to smallholder farmers’ associations for year-round farming in the state.
He said the bank will operate as a microfinance bank to provide loans to agriculture cooperatives to reduce the high interest rates charged by commercial banks and the rigorous processes involved.
The Governor said the state government will provide N2 billion as seed capital for the take-off of the bank and encouraged agricultural cooperatives to open an account with the bank when it is time to access soft loans.
He said the idea is part of the agricultural revolution policy of his administration, which he said will create jobs and increase the yield and financial status of the people.
The Governor said relevant stakeholders from the federal government and private sectors will be involved to make the initiative a success.
He also revealed that the state government will start a pilot scheme of 2 million women in agriculture in 2026, where they will be provided with goats, sheep, birds, and crops as seedlings, as well as other inputs and extension services to boost agriculture in the state.
