15,000 Adamawa rice farmers benefit from CBN loans

By Austin Ajayi, Yola

As part of effort to get more farmers involve in rice farming in Adamawa, more than 15000 rice farming have benefited from the Central Bank of Nigeria Agro loan program.

Chairman of Rice Farmers Association of Nigeria, (RIFAN) Adamawa state chapter, Mr Stephen Maduwa disclosed this to newsmen in Yola.

He said that CBN has also provided farming inputs including fertilizer, agro chemicals and cash loan to all the beneficiaries.

He added that “because of the large number of people who sort for the CBN Agro Loan and assistance, our office set out a modalities to choose the almost 16,000 rice farmers from the people that applied”

RIFAN in the state created a cluster group of 10-15 farmers, with a head to ensure that the beneficiaries are monitored for maximum yields and the return of the loan money CBN gave them.

CBN, apart from providing inputs and fertilizer, has given N217,000 to each of the beneficiary which is repayable, ” it is a revolving loan that others can also benefit from after returns.

According to the Chairman, “apart from providing the farmers with these money, inputs and fertilizer, we have also provided training for them on how to get the good yields from their farms”.

“While we are envisaging quality yields from the Farmers, we are also concerned about natural disasters of flooding and the likes, so RIFAN in Adamawa state has also insured all the farmers and their farms land with an insurance company during this farming season”

Mr. Stephen Maduwa commended the government of Adamawa state for providing support to farmers in the state, stressing that Gov. Fintiri has shown tremendous support to rice farmers in Adamawa.

Speaking to our correspondent in Yola, Jerry Usman, said, the assistance from CBN through RIFAN will go a long way in him achieve his desires.

“This the first time I am getting assistance to farm rice and with the knowledge gotten from my trainer on how to make the bet use of the inputs and fertilizer, I sure I will be better off this season”

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1 comment

Tijjani Ibrahim August 17, 2020 at 06:09

Good morning sir I am interested


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