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Over 5, 000 Imo farmers to get N3m CBN, NALDA revolving loan

By Joke Falaju, Abuja
14 March 2022   |   3:44 am
Executive Secretary of the National Agricultural Land Development Authority (NALDA), Paul Ikonne, has disclosed that no fewer than 5,000 farmers in Imo State will benefit from the Central Bank of Nigeria’s (CBN) N3 million revolving loan...

Executive Secretary of the National Agricultural Land Development Authority (NALDA), Paul Ikonne, has disclosed that no fewer than 5,000 farmers in Imo State will benefit from the Central Bank of Nigeria’s (CBN) N3 million revolving loan in partnership with the agency.

He pointed out that President Muhammadu Buhari has also approved the empowerment of 1, 000 Imo women in cassava production and establishment of three production centres in the state.

He further disclosed that the President approved he rehabilitation of the Songhai Redemption Farm in Nekede.

Ikonne, who made this known at the commissioning of the integrated farm estate at Achara-Ubo Emekuku, near Owerri, said the aim of the revolving loan was to assist the farmers to sustain their farming activities, create jobs for the youths and women and ensure food security.

He noted that the Achara-Ubo integrated farm in Owerri North Council, sits on 35 hectares of arable land with six poultry houses, 18 pens that contain about 10,000 birds, three goat houses with 196 goats and three piggeries housing 108 pigs.

Ikonne said the farm also boasts of three solar powered boreholes, access roads and drainage, as well as solar powered streetlights, adding that it was abandoned for 30 years and that its reactivation was one of the ways to demonstrate President Buhari’s passion for the agricultural sector.

Also, NALDA’s Project Coordinator in Imo State, Emeka Ugwunali, expressed hope that the project would help improve the livelihood of the host community and beneficiaries.

Speaking at the launching, Governor Hope Uzodimma said the project would be sustained through local security and several trainings that would put larger number of beneficiaries on sustainable farming and animal husbandry.

He said: “The partnership with NALDA is to ensure that the Federal Government deploys more equipment to enable the farmers to take their produce to the appropriate markets to earn more income and increase the state’s Internally Generated Revenue (IGR).

“Besides, the Imo State government, in collaboration with Federal Government, will invest N18 billion to revive the moribund Songhai Farm.”