Quest for the Truth and Justice

CBN approves N2bn loan facility for Shonga farms

Posted by on May 8th, 2017 and filed under Business, Top Stories. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

With Matthew Denis

The Kwara State Engine Lubricant Dealers (E.L.DThe Central Bank of Nigeria (CBN) intends to boost agriculture in Kwara State by injecting a loan worth N2B into a poultry syndicate belonging to Shonga Farms Holdings Limited.

The CBN Governor, Godwin Emefiele, gave the hint while fielding questions from newsmen in Shonga, Edu Local Government Area of Kwara State.

Emefiele who was on an inspection tour to the farm, said the facility will support the investor’s expansion plans.

He expressed   satisfaction with what he saw on the farm, saying that   the N2bn loan facility will be provided at low interest rates of 9 percent.

He also described his visit as an eye opener, noting that there are several opportunities to tap from Shonga Farms and the poultry value chain as a whole in order to improve the country’s economy.

The CBN Governor praised the state government for its initiative and called on other states of the federation to emulate the Kwara commercial agriculture model as a way of diversifying the economy.

He said Shonga Farms was a practical example of how governments can collaborate with the private sector to deliver real dividends of democracy such as jobs and agro-allied prosperity.

The state Governor, Alhaji Abdulfatah Ahmed thanked the CBN Governor and the Senate President, Bukola Saraki who also made an appearance.

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