Kwara Assembly approves N1bn CBN loan for peasant Farmers

The Kwara State House of Assembly has approved that the state should access N1bn credit facility under the Anchor borrowers programme of the Central Bank of Nigeria (CBN).

The approval followed a message by the state Governor Alhaji Abdulfatah Ahmed to the Speaker Dr Ali Ahmad, requesting the approval of the legislature.

The Speaker, while reading the resolution of the Parliament on the request, said the approval became imperative, to assist the state in using agriculture, as catalyst for industrialization, economic emancipation and sustainable tool for women and youths development.

Dr. Ali Ahmad then directed the House Committee on Agriculture and Natural Resources to brief the Parliament on the disbursement and effects of the earlier off tanker demand driven N1bn CBN credit facility accessed by the state government, last year.

Members had while contributing on the credit facility, expressed confidence that since the agricultural loan was targeted towards genuine peasant farmers, in the state, the Credit facility according to them, would stimulate the economy of the state, through increased food production, job and wealth creations.

It would be recalled that the legislature, as part of efforts at ensuring that the state used agriculture to stimulate increased food production, job and wealth creations early in the year, ventured into farming by cultivating 300 hectres of soya beans and had resolved to suspend plenary on Thursday to enable the entire House visit the farm, located at Ejidongari in Moro Local Government Area of the state.