The Bauchi State Commissioner for Agriculture, Yakubu Kirfi says the state government has secured an N8 billion loan facility from the Central Bank of Nigeria (CBN), under the Commercial Agricultural Credit Scheme (CACS) to enhance agricultural production in the state.
He said that the loan was approved by the State House of Assembly and ratified by the state’s reconstituted Executive Council.
“The Bauchi state government applied to enjoy that facility and it is meant for 2016, 2017 and 2018, and it is only this year we got the approval. It was N8 billion but we got first installment of N5 billion now”, the commissioner said.
He said that following the ratification by the State Executive Council, the government had started withdrawals through the United Bank for Africa (UBA).
“So when you get that loan, you have to agree with commercial bank to remit that money before it gets to the coffers of the state government. That was what the Executive Council did Wednesday, and the money is meant for rice farming, fisheries and other agricultural activities”, he stated.
The Special Adviser to Bauchi State’s Governor Mohammed Abubakar on Media and Strategy, Ali Muhammad Ali, said that the state had comparative advantage in three key areas such as agriculture, tourism and solid mineral over other states in the North-East geo-political zone.