Delta to guarantee N25 billion CBN loan for farmers

Delta to guarantee N25 billion CBN loan for farmers

From Paul Osuyi, Asaba

The Delta State Government said it would guarantee a N25 billion loan from the Central Bank of Nigeria (CBN) for farmers across the state.

The government said it was not taking a loan of N25 billion as alleged by the campaign organisation of the Ovie Omo-Agege, governorship candidate of the All Progressive Congress (APC).

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Commissioner for Information Charles Aniagwu, who made the clarification in Asaba, insisted that the government was to guarantee and monitor it’s disbursement to ensure that it will not be diverted.

Aniagwu said the CBN has had to assist a number of persons across sectors, adding that the state government would not fold it’s arms and allow the opportunity to increase yields of farmers slip off.

“The role of the state government is to guarantee the farmers and to assure the CBN that the farmers are credible enough to pay back at the appropriate time.

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“To ensure that the individuals the funds would be given to will be able to use it judiciously for the CBN to get back its funds.

“Delta State Government being a responsible government decided to guarantee our farmers so that the CBN can make the funds available for the farmers to increase their yields.

“How does that become a wrong decision of government? The fund is coming from CBN, they only need the state to have a buy-in to agree that once the money gets to the farmers it would be used for the purpose it was meant for.

“Is the APC in Delta expecting that we will keep quiet because they don’t understand governance and allow the funds to go to other states and farmers in those states would be making progress and ours we have to fold their hands?”

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