By Nafisat Makinde
The Deputy President of the Senate, Senator Barau Jibrin’s foundation, has signed a Memorandum of Understanding (MoU) with the Bank of Agriculture (BOA) on Thursday, February 20, 2025, in Abuja, to implement a N2.79 billion loan scheme. This scheme aims to raise 558 young millionaire farmers across the North West geopolitical zone.
Senator Barau Jibrin said,
“This initiative is geared towards revolutionising agriculture in the North West by, at the first stage, raising 558 young farmers millionaires in the zone.”
Speaking in his office he stressed that the loan scheme is premised on Barau’s Initiative for Agricultural Revolution in Nigeria (BIARN) and aims to support President Bola Tinubu’s renewed hope agenda, which boosts the capital base of agriculture with over a trillion naira.
“Each selected beneficiary will receive an interest-free N5 million loan to invest in farming during this year’s cropping season. The sum of N2.79 billion will be disbursed to the beneficiaries.”
The breakdown of beneficiaries per state is as follows: Kaduna 69, Kano 132, Kebbi 63, Katsina 102, Jigawa 81, Sokoto 69, and Zamfara 42.
“The ultimate goal of this scheme as stated earlier is to serve as catalyst for realisation of renewed hope agenda of President Bola Tinubu who for the first time in the history of the country, is boosting the capital base of Agriculture with over a trillion naira.”
Alwan Ali Hassan, Managing Director of Bank of Agriculture (BOA), assured Senator Barau that his initiative on the loan scheme will be well implemented and coordinated successfully.
“BOA is very happy with the initiative to revolutionize Agriculture in Northwest geo-political zone towards raising 558 young farmers millionaires in the area of Maize and Rice cultivation.” – Alwan Ali Hassan
Targeted beneficiaries include Higher National Diploma (HND), Bachelor’s Degree, Masters Degree, and Ph.D. holders across the seven states and 186 local government councils in the North West.
Wow this is a big progress if we’ll implemented and execute, food security will be ensures and opportunities will be created to the farmers.
I hope this will one day be all over the Nations not only Northwestern zone.
Other senators should emulate you sir. Let it be food for all.