Bank of Agriculture (BOA), Managing Director, Prof. DanBala Danju, said that the bank has a minimum target of N250 billion, capital base to enable it to effectively finance agro-allied activities in the country. The bank is working in collaboration with Prof. Jess Lowenberg-Deboer, an expert in agricultural . Deboer is also professor of agriculture and Director of International Programmes in agriculture and together they plan on remodelling credit facilities in order to ease lending to Nigerian farmers.
Danju said that their initiative’s main motive was to enable farmers to have access to finance. This will would scale up production, processing, storage and marketing of produce, especially for the small- holder farmers, in order to generate more income. He said that there was need for them to seek approval from the central bank of Nigeria so that they can peg the interest rate at five per cent to attract more farmers to its credit facilities. they are also working on more realistic models of operation that would benefit millions of farmers across the country.
 

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