A Financial Expert, Mr Babatunde Salami has described agriculture as the best alternative for self-reliance in the country. Mr Salami, who gave the assertion while speaking with VON, said this would boost food security and employment opportunity for the citizens. He enjoined farmers to engage in agriculture mechanisation and irrigation farming, which would help in climate change, adding that Nigeria should diversify the nation’s economy to other sectors for socio-economic development of the country. The Financial expert also urged government at all levels to be prepared and sincere in providing funds to genuine farmers to foster effective farming and production, as well as reduce hunger and unemployment in the country. Mr. Salami therefore, called on Nigerians to always patronise indigenous products, improve on locally produced products to properly manage the economic challenges facing the country. According to him, monetary policy usually contributes to economic growth and stability, lowers unemployment and maintains predictable exchange rates with other currencies. Speaking on the recent federal government policy on the ban on vehicle importation through land borders, Mr. Salami advised the federal government to ensure that the tariffs on the imported vehicles are not too high, adding that if effectively implemented, the policy will produce positive results on the nation’s economy Source: Voice of Nigeria

Kano State Governor, Dr Abdullahi Umar Ganduje has flagged off the 2016 Rainy Season Recovery from CBN /KNSG Rice Anchor Borrowers programme at Kadawa seed processing plant Garun Malam Local government in the outskirts of the State.
The event which was an interactive session between the governor, representatives of several stakeholders like CBN, BOA, farmers association, and the farmers directly focused on the success and otherwise of the anchor borrower programme which has made Kano to be the number one rice producer, by producing 1/6 of Nigeria’s rice requirement.

The recovery programme is aimed at ensuring that the farmers that benefitted from the year 2016 loan scheme return the money so that next batch of beneficiaries will enjoy the same intervention by the state government. The programme gave farmers close to 1Billion naira loan.

A total of five thousand five hundred and four thousand farmers benefitted from this loan, each received N163,710 per hectare (totalling about N906 million), and a hectare is expected to produce 60 bags of rice but only 13 bags when sold at the current market price of rice will repay the loan and 47 bags will be pocketed as profit.

The Governor promised to ensure that all the issues raised during the interactive session like delay in giving out the loans and issue of inadequate fertilizer will be addressed.

He urged all the beneficiaries to ensure that they repay the loan as it is a revolving one in order to give to another set of farmers for the 2017 farming season, as this year the state is expected to increase its rice production to about 1/2 of the country’s rice requirement.

Source: Voice of Nigeria