The Niger State Authorities has introduced plans to commit N2 billion as seed capital for the take-off of its State Cooperative Financial institution for Agriculture.
Governor Mohammed Umaru Bago disclosed this, based on an announcement issued by Bologi Ibrahim, Chief Press Secretary to the Governor of Niger State, on Friday, titled “FARMER GOVERNOR BAGO MOVES TO EASE ACCESS TO SOFT LOANS FOR FARMERS.”
In line with the governor, his administration plans to determine a State Cooperative Financial institution for Agriculture to allow farmers to have fast and quick access to tender loans for agricultural functions.
Govt Plans for Smallholder Farmers
- Governor Mohammed Umaru Bago reportedly flagged off the free distribution of varied agricultural inputs to smallholder farmers’ associations for year-round farming within the state.
“The Farmer Governor stated the state authorities will present N2 billion as seed capital for the take-off of the financial institution and inspired agricultural cooperatives to open accounts with the financial institution when it’s time to entry tender loans,” the assertion partly reads.
He defined the financial institution will function as a microfinance financial institution to offer loans to agricultural cooperatives, aiming to cut back the excessive rates of interest charged by business banks and the rigorous processes concerned.
He burdened that the initiative is a part of his administration’s agricultural revolution coverage to create jobs and enhance each the yield and monetary standing of the folks.
The governor disclosed that related stakeholders from the federal authorities and personal sectors can be concerned to make sure the initiative’s success.
He additionally introduced that the state authorities will begin a pilot scheme involving 2 million girls in agriculture in 2026.
Backstory
Recall that in January 2025, the Niger State Governor revealed that the state generated over N600 billion from agriculture and associated companies in 2024, pushed by mixed efforts from the private and non-private sectors.
On the time, the governor didn’t present information to help this declare.
Talking on the occasion, Governor Bago emphasised agriculture’s vital contribution to Niger State’s economic system.
“Final yr, we made a revenue of over N600 billion in agriculture and associated companies—that’s conservatively estimated, together with grains manufacturing and agro gross sales in each private and non-private sectors,” he said.
“So, to maintain meals safety, present employment and engagement, and cut back insecurity and social vices, agriculture is the best way ahead. The one approach we will obtain that is by introducing new methods and new expertise in manufacturing,” he stated.
The governor additional highlighted the necessity for developments throughout the agricultural worth chain, together with crop manufacturing, irrigation, animal husbandry, livestock administration, and aquaculture.
