In Kwara CBN approves N2B loan facility for Shonga farms

CBN Governor Emefiele said the N2B loan facility will be provided at low interest rates of 9 percent.

  • Published:
Emefiele, Saraki, Ahmed play

Emefiele, Saraki, Ahmed

(Kwara State govt)
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The 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, left the hint while fielding questions from newsmen  in Shonga, Edu Local Government Area of Kwara State.

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

Emefiele said he was satisfied with what he saw on the farm.

The CBN Governor said the N2B loan facility will be provided at low interest rates of 9 percent.

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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.

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

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