The Niger State Government plans to establish a state cooperative bank for agriculture to provide farmers with quick access to soft loans.
Farmer Governor Mohammed Umaru Bago announced the move during the flagged-off of free distribution of agricultural inputs to smallholder farmers’ associations.
The bank will operate as a microfinance bank, reducing high interest rates charged by commercial banks.
The state government will provide N2 billion as seed capital and encourage cooperatives to open accounts for soft loans.