Delta farmers to get N1bn FG loan in 2012 -AFAN

The Chairman, AllFarmers Association of Nigeria (AFAN) in Delta, Mr Joshua Oghenekaro, has said the disbursement of the Federal Government's N1billion agriculture loan in the state is expected in 2012.Oghenekaro, who disclosed this to the News Agency of Nigeria (NAN) in Asaba, said that the state government was working with some banks on the best ways top disburse the loan.He said more than 700 farmers' cooperative societies, including big farmers in the state, had formally applied for the loan.According to him, the banks would have to carry its assessment on the approved list of farmers to ascertain their status and ability to repay.He said: 'I know that the state government is working with some banks and that it has sent the list of some farmer's cooperatives societies to the banks for assessment.'I don't think disbursement will be possible until next year, because the banks will still go and inspect the farms and that procedure will take a long time.'About a total of 700 farmers' cooporative societies applied for the loan in the state.'We are still awaiting the state government's directives.'He said though there were other loans available to farmers, they came with almost 25 per cent deposit and a certain interest rate which could be double-digit interest rates, depending on the bank.According to him, not all farmers could access this loan, because of the associated conditions which might be difficult to meet.He called for improved funding and infrastructure development to assist 'the grass-roots farmers who actually feed the nation.
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