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BOA Pays N21.5b to Nigerian Farmers

By Dipo Olowookere

Nigerian farmers have received over N21.5 billion from the Bank of Agriculture (BOA) as support to boost their outputs.

This information was revealed by the Zonal Manager, South West Region, Bank of Agriculture (BOA), Mrs Idiat Folorunsho, during the Ooni Ogunwusi Agric-empowerment Programme in Ile-Ife, Osun State, put together in partnership with the BOA.

According to her, N40 billion has been set aside as a special purpose vehicle to ensure proper implementation of an empowerment initiative by the bank.

She said further that the dwindling oil revenue had forced a rethink in strategy in favour of agribusiness, but said the BOA has taken necessary steps through deliberate policies and special programmes to galvanise the agriculture sector and engender the development of agribusinesses.

Mrs Folorunsho also stressed that the bank’s Anchor Borrowers Programme (ABP) involves the anchor providing some degree of support through the supply of inputs and technical advice to farmers.

She noted that all projects were being adequately taken care of with supplies of inputs to farmers after training.

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Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan.

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