Agriculture
Farmers are excited about CBN’s 9% credit policy


Farmers have applauded the nine per cent interest rate credit policy of the Central Bank of Nigeria (CBN) to the agriculture sector but called for prompt monitoring of the Commercial Banks to guarantee effective implementation
Under the new policy, agricultural, manufacturing and the sectors considered as growth and employment stimulating, can borrow long term as much as N10 billion at consolidated nine per cent interest rate.
The CBN released the new new credit policy, called Guidelines for Accessing Real Sector Support Facility (RSSF) through Cash Reserve Ratio (CRR) and Corporate Bonds on Thursday.
National President Rice Farmers Association of Nigeria (RIFAN) Alhaji Aminu Goronyo said that rice farmers under the CBN Anchor Borrowers Programme (ABP) had being enjoying the nine per cent lending rate since 2015.
Goronyo expressed optimism that the policy would help improve production of other agriculture commodities in the sector.
He said the nine per cent lending rate under the ABP facilitated the increase in rice production from between two million and 3.5 million tonnes to nine million tonnes annually.
He advised farmers to key into the policy to enable them benefit from the intervention.
“Before the single digit interest rate by the CBN, our production annually was not more than between 2 million and 3.5 million tonnes per annum but today, we are producing almost nine million tonnes because of that intervention.
“I am sure it will be the same for other commodities that will enjoy this intervention,’’ Goronyo said.
In interviews conducted by the News Agency of Nigeria (NAN) National President, Women Agro Allied Farmers Association, Mrs Lizzy Igbine, said although the nine per cent lending rate would encourage farmers to increase production, there was need to reduce it to five per cent.
“We are asking for as low as five per cent, the CBN still has to do more.
“ It will go a long way to help us but we hope there won’t be any hidden rates or charges that farmers will pay after taking the loans,’’ she said.
President of National Cashew Association of Nigeria (NCAN) Mr Tola Faseru appealed to the CBN not to allow the policy to be a `lip service’.
Faseru, who said it was not the first time the CBN was directing commercial banks to lend to agriculture, noted that most banks had not complied with such directive.
According to him, most commercial banks viewed agriculture over the years as very risky. “I hope it won’t be lip service.
“I hope the commercial banks will comply with that because there was a time CBN told them that out of their profit, certain percentage should be channelled to agriculture and the manufacturing sector but they never kept to it.
“Before now, most of the commercial banks have been shying away from lending to agriculture, they like the quick return type of business.
“They see agriculture as very risky but that is where we have our comparative advantage as a country, so we need to develop the sector to be able to diversify the economy away from oil.
“This is a very laudable policy by CBN and we commend CBN for that but we plead with the CBN to put a mechanism in place to check compliance by commercial banks.
“I think CBN has been strong recently in their supervisory role of commercial banks.
“We trust that they will be able to follow through to ensure that the policy is implemented by the commercial banks; it will go along a way to help us grow the agriculture and indeed the export sector,’’ he explained.
National Publicity Secretary, National Fish Association of Nigeria Mr Chidike Ukoh said the expectation of farmers was for the CBN to still bring down the lending rates to about five per cent.
Ukoh said that lending rates on agricultural production were being subsidised as low as about two per cent in developed countries.
“When you have mass production of food, industries will have raw materials and the productivity level will bring aggregate income in the economy.
“The Gross Domestic Product (GDP) will be much in such volume of production. We are making a case for five per cent.
“If the commercial banks will comply with the single digit rate, it will be very nice. It is a development that we need to watch,’’ the publicity secretary said.
NAN recalls that guidelines followed the recommendation of the Monetary Policy Committee (MPC) of the CBN at its 119th meeting held between July 23 and July 24.
The MPC had emphasised the need to increase the flow of credit to the real sector of the economy, to consolidate economic recovery.
NAN reports that the new policy marks a big departure from the excruciating interest rate regime of 25 to 30 per cent that was blamed for stifling agriculture, manufacturing and other ventures in the country.
Agriculture
Niger State to End Direct Supply of Live Cows, Launch Meat Processing for Southwest Markets


Governor Mohammed Umaru Bago has unveiled a major reform in Niger State’s livestock trade, announcing plans to halt the direct transportation of live cows and goats to markets in Lagos and Ogun states.
Under the new plan, livestock will be slaughtered and processed at Mokwa before being packaged and delivered as frozen products to the Southwest. According to the governor, this will improve hygiene, reduce waste, and ensure farmers capture more value from the livestock chain.
Speaking at the First Bank 2025 Agric and Export Expo in Lagos, Bago explained that value addition was key to reversing losses from exporting raw commodities. He revealed that Niger State had secured a $100 million offtake agreement with the Saudi Export and Import Bank to supply livestock to the Middle East, stressing that every part of the animal—from tripe to hooves—would now be fully utilized.
The governor also disclosed plans to partner with Lagos on LNG-powered cold-chain trucks for modern meat distribution. He emphasized that the initiative would raise meat quality, generate jobs in processing, and contribute to Nigeria’s economic diversification away from oil.
Bago urged banks to back such ventures, warning that nations that continue exporting raw products risk remaining “perpetually broke.”
Agriculture
Enugu Govt to Establish Food and Nutrition Units
…Commends Tinubu for Ortuanya’s appointment as UNN’s VC


The Enugu State Government has resolved to set up food and nutrition units in select ministries in the state in line with the national food policy.
This was even as the government announced that it would distribute 20,000 units of personal computers to 20,000 civil servants in furtherance of the digitization of process in the state’s public service.
These were made known by the Commissioner for Youth and Sports, Barr. Lloyd Ekweremadu; Commissioner for Information and Communication, Dr. Malachy Agbo; and the Head of Service, Dr. Godwin Anigbo, while briefing Government House correspondents at the end of the State Executive Council meeting at the weekend.
“The Exco approved the establishment of a Food and Nutrition Unit in select line ministries that will be working together. This an opportunity for us to recommit to the administration’s promise and mandate to eradicate poverty in Enugu State, but in this regard, ensuring food security.
“Part of those Ministeries, Departments and Agencies (MDAs) that are involved in food programme as approved by the Exco are: The Ministry of Human Development and Poverty Eradication, Ministry of Education, Ministry of Trade, Investment, and Industry, Ministry of Budget and Planing, Ministry of Information and Communication, and the Ministry of Agriculture and Agro Industrialisation. Those ministries are very key, particularly as they align with the governor’s vision of providing free meals at the Smart Green schools as they come on board,” Ekweremadu said.
Also briefing, the Head of Service said the provision of 20,000 units of computers would bring the digitization of the state’s public service into in full swing.
“This government is so interested in using technology to solve problems. When this digitization process takes full effect, we are going to have increased productivity in the public service, which will also help to track performance. Civil service is very critical in terms of implementation of systematic policies and critical reforms of this administration. The state government is committed,” he stated .
Meanwhile, the state government has equally expressed a heartfelt gratitude to President Bola Tinubu for the appointment of the first University of Nigeria, Nsukka, Vice Chancellor of Enugu North Zone extraction.
“The Enugu Exco extended a profound gratitude to President Bola Ahmed Tinubu for finding this illustrious son of Enugu, Prof. Simon Ortuanya, worthy to be appointed the VC of the UNN,” Agbo stated.
Agriculture
We engage in beneficial, community-oriented land acquisition for agricultural purposes – Enugu Govt
By Our Correspondent


The Enugu State Government says it only engages in a win-win land acquisition system for ongoing agricultural initiatives and programmes.
The state’s Commissioner for Agriculture and Agro-industrialisation, Mr Patrick Nwabueze Ubru, made this known to newsmen in Enugu, weekend, stating that “we engage in beneficial and community-oriented land acquisition for agricultural purposes only.”
Ubru observed that the state government,, by an executive order issued by the state governor, Dr Peter Mbah, in 2024, committed to international best practices in agricultural land acquisition.
“By the Executive Order No. 001 of 2024 on the Framework for Responsible and Inclusive Land Intensive Agriculture (FRILIA) signed by the state governor, Dr Peter Mbah, the state government
had committed itself to international best practices in land acquisition for agricultural purposes,” he stressed.
It would be recalled that an online medium had published a report falsely accusing Governor Peter Mbah of moves to buy off some ancestral lands in Eha-Amufu community in Isi-Uzo LGA and hand it over to non-indigenous herders for settlement.
The group also alleged that Governor Mbah had paid the sum of N30 billion to some leaders of Eha-Amufu community to secure the release their communal lands to the said herders for settlement.
Ubru however urged the people of the state to discountenance the report, describing it as “completely fake and mischievous ,” adding that “being a responsible and people-focused government, this administration would not undermine or short-change its people under any guise.”
The commissioner stated that the Executive Order had ensured transparency in land acquisition with the consent of the people and to the benefit of all within the same community.
He noted that the Executive Order is a public document that anyone may read in electronic or hard copy to understand how open and transparent Governor Peter Mbah’s visions and objectives are regarding land acquisition for agricultural purposes..
“The Executive Order ensures that land acquisition and resettlement for large-scale agribusiness investments are undertaken in line with international best practices and guaranteed shared benefits between private investors and host communities.
“The Government of Enugu State is desirous of deepening the state’s agribusiness reforms including delivering a win-win approach to all the relevant stakeholders on agricultural land matters and investment opportunities.
“The FRILIA Executive Order will enhance access to large-scale investments, gainful employment on large-scale farms, sufficient income, and protection from the volatility of agricultural labour and product markets.
“The Framework will ensure adherence to guiding principles covering overarching investment, recognition and protection of land rights, state land acquisition and resettlement, environmental and social responsibility,” he said.
The commissioner noted that in order to achieve the government’s objective of creating an enabling, responsible and inclusive business operating environment for large-scale agribusiness investments in Enugu State through FRILIA, the state government set up other mechanisms to back it up.
“The state government established the FRILIA Steering and Technical Committees with clearly defined functions and powers.
“Others are the establishment of a grievance redress mechanism; and development and adoption of FRILIA Toolkits/Guidelines/Policies or Equivalent,” he added.
Ubru said that Governor Mbah, being a leader with vision, had clear intentions and programmes to grow the GDP of the state from $4 billion to $30 billion.
He noted that the governor had taken time and opportunities to explain his vision of uplifting the people of the state out of poverty.
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