145,000 Kogi State Farmers To Benefit From NAPI Loan

A significant step to ensure the development of agriculture in Kogi State has been put in place by the Governor of the state, Idris Wada, as no fewer than 145,000 rural farmers have been selected as beneficiaries for agricultural grants and loans.

The farmer who have been validated by the state government in partnership with the Kogi Farmers Cluster Development Union will benefit from agricultural loans and grants under the Nigerian Agricultural Payment Initiative (NAPI).

Wada noted that the N160,000 loans and grants being disbursed to rural farmers would enhance wealth creation and alleviate poverty among the teeming population of rural farmers in the state.
Describing the disbursement of funds as a testimony to the commitment of the present administration to state-wide development, he urged the farmers to take advantage of several initiatives aimed at improving their welfare and the advancement of agriculture in the state.

According to him, the disbursement through the NAPI e-wallet platform was adopted by his administration in October, 2013. He stated that it would eliminate corruption and facilitate greater inclusion by ensuring that the funds got to the farmers directly.

On the modalities of the loan, the President of the Kogi Cluster Farmers Development Union, Mr. Alfred Okeme, stated that N104,000 would serve as a grant while N56,000 is a repayable loan to each farmer to be paid back with five per cent interest from accrued proceeds on produce-buy-back from the farmers by the state government.

Okeme commended the state government for its support to the organization through the provision of agricultural inputs, mobilization of farmers and validation of farmers’ clusters.
The disbursement of loans and grants through the Nigerian Agricultural Payment Initiative e-wallet platform is jointly being executed by the Federal Government, the Kogi State Government and other stakeholders in the agricultural value chain in Nigeria.