FG Earmarks N600bn Zero Interest Loan for 2.4m farmers

President Muhammadu Buhari on Wednesday said his administration has set aside a N600 billion loan to support 2.4 million farmers across the country.

Buhari said farmers can assess the loan through the Agro-Processing Productivity Enhancement and Livelihood Improvement Support Project (APPEALS).

He disclosed this at the opening of the National Agricultural Show/Exhibition of the 2021 World Food Day, on Wednesday, in Abuja, NAN reports.

Represented by the Minister of Agriculture and Rural Development, Dr. Mohammed Abubakar, the president said his government was determined to address the challenges of Nigeria’s Agricultural sector.

”The Federal Government, through the Agro-Processing Productivity Enhancement and Livelihood Improvement Support Project (APPEALS), has set aside N600 billion as loan support to farmers across the country.

”No fewer than 2.4 million farmers are expected to benefit from the loan which has zero interest.

”The gesture will support farmers in the country, to improve their productivity aimed at boosting the country’s food security, improving farmers’ production and increasing exports.”