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Rice Farmers To Enjoy Single-Digit Loans From CBN

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The Central Bank of Nigeria says it would offer rice farmers in the Niger Delta region single – digit loans. 

This is according to a  statement signed by the Head , Press and Public Relations at the Ministry of Niger Delta Affairs, Patricia Deworitshe.

The statement was released sequel to a meeting between the Minister of Niger Delta Affairs, Godswil Akpabio , and representatives of the CBN in Abuja.

The statement said CBN representative,  Anthony Ifechukwu, “assured participating farmers of a guaranteed market price for their produce, explaining that the bank would give a single -digit interest loan for five years.

“He advised eligible farmers willing to participate in the scheme to procure quality seedlings from reputable companies and plant their crops in clusters, adding that CBN will do index insurance for participating farmers.”

 

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