BOA gives Southwest farmers N4.7b loan

• Decries Default In Payment
The Bank of Agriculture (BOA) has decried attitude of farmers to payment of loans incurred from the bank, saying the development has negatively impacted on its operations.

The bank disclosed that it has so far given out N4.7b loans to farmers from the Southwest, threatening it will go after defaulters and “recover every kobo received.”

Zonal Manager, South-West, BOA, Mrs. Idiat Folorunso who disclosed this in Ibadan at a press conference to make public some products of an agro allied company, Capsfeed Limited said many farmers erroneously perceived loans taking from the bank as “their share of national cake.”

At the event, modern garri processing line comprising cassava peeler, cassava grater, cassava presser, cassava sifter and cassava fryer was presented.

Folorunso, who spoke on the theme: “Impact of Agro Allied and Feed Equipment on Agribusiness for National Development,” disclosed that the bank has disbursed about N4.7b loans to Southwest states of Lagos, Osun, Ogun, Ekiti, Oyo and Ondo as she faulted the mentality of Nigerians, especially those in the region towards loan repayment.

She also called on government to provide the needed infrastructure that would make farmers remain on their farm location, lamenting that many people who got loan devised many schemes to skip repayment, adding that many see the loans as national cake that should not be refunded.

Speaking earlier, the General Manager, Capsfeed limited, Mrs. Bibiana Odekunle said the firm, an agro allied and feed equipment solution provider, is desirous to contribute her quota to the agribusiness and value chain in Nigeria.