The Bank of Agriculture (BoA), has signed a Memorandum of Understanding (MoU) worth N2. 79 billion with the Barau I Jibrin Foundation (BIJF)......CONTINUE READING THE ARTICLE FROM THE SOURCE>>>>>
The N2. 79 billion is a loan facility being provided by the Bank for the purpose of boosting agriculture and food production in the seven states in the Northwest zone.
Foundation, owned by the Deputy President of the Senate, Barau Jibrin, aims to raise 558 young millionaire farmers; with three each from the 186 local government areas in the seven northern states.
Each of the 558 beneficiaries will be given N5 million interest-free loan as take off capital.
The beneficiary states in the Barau Initiative for Agricultural Revolution in Nigeria (BIARN) are Kano, Kaduna, Katsina, Jigawa, Kebbi, Sokoto and Zamfara.
The project is being implemented through BIJF, under leadership of Senator Jibrin’s Special Adviser on Policy and Monitoring, Professor Bashir Fagge.
At the signing of the MoU in his office at the National Assembly on Thursday, Senator Jibrin said he came up with the initiative to complement the federal government’s policies on food security and food sufficiency in the country.
“This initiative is geared towards revolutionising agriculture in the Northwest, to raise 558 young farmer millionaires in the zone at the first stage.
“The N2.79billion loan scheme being activated with signing of MoU with the Bank of Agriculture today, will not only drive productivity in the agricultural sector in the Northwest, but also facilitate prosperity through provision of jobs for the teeming youth population, 558 of who will be young farmer millionaires with N5 million loan offer each.
“The envisioned young farmer millionaires will be employers of labour who on their own, will also raise millionaire farmers as they are expected to make the best of the opportunity.
“Targeted beneficiaries across the seven states and 186 local government councils in the Northwest, are Higher National Diploma ( HND) Bachelor’s Degree, Masters Degree and Ph.D holders.
“The ultimate goal of this scheme, as stated earlier, is to serve as a catalyst for realisation of renewed hope agenda of President Bola Tinubu who, for the first time in the history of the country, is boosting the capital base of agriculture with over a trillion naira,” the senator said.
Earlier in his remarks, the Managing Director of Bank of Agriculture ( BoA), Alwan Ali Hassan, assured the lawmaker that his initiative on the loan scheme will be well implemented and successfully coordinated.
“BoA is very happy with the initiative to revolutionise agriculture in the Northwest geo-political zone towards raising 558 young farmer millionaires in the area of maize and rice cultivation,” Hassan said.