Gombe exchange centre disburses N300m loan to cotton farmers
The Gombe State Commodity Depot/Exchange Centre (COMDEC) has commenced the disbursement of N300 million as loans to farmers in the 11 local government areas of the state for the 2019 farming season.
The Chairman of the COMDEC, Musa Yahaya, disclosed this in an interview with journalists in Gombe on Tuesday, saying that no fewer than 692 farmers were approved to benefit from the loans.
He explained that the programme is supported by Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL) and that the project is expected to revive and inspire more farmers to go into cotton production in the state. With this, 1,200 hectares of land are expected to be cultivated to boost cotton production.
Commenting on why peasant farmers still suffer in Gombe despite the support through various programmes of the federal government, the COMDEC boss explained that it was as result of lack of coordination of the programmes.
“You see all the federal government programmes were designed to support and encourage agricultural activities but did not cover the whole value chain,” he said.