Some Nigerian farmers may soon have the opportunity to borrow from the Bank of Agriculture at single digit interest value.
This will happen after the Bank of Agriculture is recapitalized to the tune of 3 trillion naira.
Nigeria’s Minister of State for Agriculture, Heineken Lokpobiri, revealed this in Abeokuta on Monday.
He noted that access to funding remained one of the challenges confronting farmers in the country.
Lokpobiri said he was worried that commercial banks were reluctant to fund agriculture.