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NAEEP reduces interest rate to farmers

By Ishola BALOGUN

The Chairman of the Nigerian American Economic Empowerment Programme, NAEEP, Chief Mrs Temitope Ajayi has called on the governor of Central Bank, to urgently look into the interest rates on loans to farmers, saying that is the only way to encourage Nigerian farmers on the production of foods and poverty alleviation.

Chief Ajayi who was speaking to newsmen on her multi-million naira agricultural programme in her office, Yaba, Lagos yesterday said the only way government can make substantial impact in the lives of farmers in this country is to reduce the interest rate on agriculture, loans and make it more accessible to farmers.

“We in NAEEP are determined to fight poverty and that is why we are taking the initiative of empowering over 1000 farmers by proving land and technical know-how exposing mechanised farming as it is done in United states of America”

She stated further that the current 25 per cent rate on loans is unhealthy for farmers saying that will impinge on the state of the economy if farmers are not doing well.


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