The Niger State Government has announced plans to establish a state cooperative bank for agriculture to give farmers quick and easy access to soft loans.
Governor Mohammed Umaru Bago, who is widely referred to as the farmer Governor, disclosed this while flagging off the free distribution of various agricultural inputs to smallholder farmers’ associations for year-round farming in the state.
According to him, the new bank will operate as a microfinance bank to provide loans to agriculture cooperatives and reduce the high interest rates charged by commercial banks. He added that the move will also address the rigorous processes farmers currently face in accessing credit facilities.
“The state government will provide N2 billion as seed capital for the take-off of the bank, and I encourage agricultural cooperatives to open an account with the bank when it is time to access soft loans,” the Governor said.
He explained that the initiative is part of the agricultural revolution policy of his administration, aimed at creating jobs, increasing farm yields, and improving the financial status of residents. He also noted that relevant stakeholders from the federal government and private sectors will be involved to ensure the project succeeds.
Governor Bago further revealed that his administration is working on a pilot scheme that will engage 2 million women in agriculture by 2026. Under the scheme, beneficiaries will receive goats, sheep, birds, and crop seedlings, alongside other farming inputs and extension services to boost productivity across Niger State.
He stressed that agriculture remains the foundation for food security and rural development, and his administration is determined to support farmers with innovative programmes and financial empowerment.