AFAN welcomes Buhari’s directive to CBN to facilitate easy loan access for farmers

The All Farmers Association of Nigeria (AFAN) has commended President Muhammadu Buhari for directing the Central Bank of Nigeria (CBN) to make access to agricultural loans easier for farmers.

Speaking with the News Agency of Nigeria (NAN) in Abuja on Thursday, Chief Daniel Okafor, the National Vice-President of AFAN, said the directive was a welcome development.

President Buhari on Tuesday directed the CBN and the agriculture ministry to bypass the knotty issues of collateral describing it as “a terrible colonial legacy’’, to enable farmers easy access to agriculture capital.

The President gave the directive during an audience with members of the United Kingdom-based Foundation for Good Governance for Development at the State House.

He, however, assured that his administration’s priority was to ensure that the efforts of hardworking farmers in the country are respected.

The AFAN vice president said the directive, if implemented, would encourage more farmers, especially youths to come into agriculture.

Okafor suggested that any farmer who would benefit from the loan collateral bypass must go through a registered farmers’ association and cooperatives.

This, according to him, would help to ascertain the real farmers to facilitate the repayment of the loans.

“It is a welcome directive.

“What the President said is true and it is a major bottleneck for farmers in accessing loans because farmers have no collateral, especially women and youth farmers.

“They are interested in going into agriculture but they do not have collateral to access loans.

“That is the only thing that can help this country and farmers to produce more food but it must be monitored by the organised private sector (farmers’ associations).

“You don’t give people loans without having stakeholders that you can call upon.

“Associations should be used to get things done because if not, everybody will become a farmer overnight in Nigeria.

“There must be a way to checkmate people that are real farmers or not.

“Associations under cooperatives must guarantee their people. If there are no checks and balances, the monies will not be repaid,’’ Okafor said.

He appealed to the CBN to assist all commodity associations to collate the data of their member farmers across the country for proper planning. (NAN)

Spread the story


  1. It also portrays your model image. This prime
    quality image processing technology processes each pixel produced
    by the Blu-ray Disc video signal within the vertical direction. Superior high quality of offered service and value-effectiveness has allowed many Multi National
    Companies to turn in the direction of Indian Professionals of Web Development.
    Our objective is to supply thought leadership and steerage to implement IT solutions for small to medium sized
    firms in USA and Bangladesh. There are lots of IT Solutions Companies in India, Bangladesh, Pakistan and more eastern nations
    which provide a totally devoted outsourcing unit. WordPress web sites can supply nice
    simplicity! From a easy HTML site that advertise your corporation to the most interactive sites that need advanced web scripting, we can help
    in creating create high web sites. It might make it easier to sell
    a short run of something, but it surely won’t establish a relationship together with your clients, build a stable buyer base
    or solidify your branding strategy. While designing the website, we’ll guantee that the website has a wonderful consumer experience and likewise
    it is going to finally assist to enhance the conversion charge.
    If your site can serve that need, then you could make this clear instantly.
    A web based procuring cart is an instance of a dynamic

  2. Having read this I thought it was very informative.
    I appreciate you finding the time and effort to put this short
    article together. I once again find myself personally spending a lot of time both reading and leaving comments.

    But so what, it was still worthwhile!

  3. Right here is the right website for anyone who would like to
    find out about this topic. You know a whole lot its almost
    hard to argue with you (not that I really would want to…HaHa).
    You certainly put a new spin on a subject that has been written about for many years.
    Excellent stuff, just wonderful!

Leave a Reply

Your email address will not be published.