Members of the Nigerian Maize Association, MAAN, Chapter of Niger State in Chanchaga The state’s local government has kicked off the CBN Central Bank’s, Anchor Borrowers, Farming Season 2020 loan.
The farmers of Maize were requested to deposit the sum of N3,000 on the Unity Bank for logistics.
Yet 91 out of 143 beneficiaries refused the bid in a short protest against the conditions while distributing material / inputs to beneficiaries in Minna and expressed dissatisfaction with the conditions.
The terms include: refund of agricultural products of 30 bags per hectare and deposit with the account of N20,000.
In addition, farmers are responsible for ensuring that the loan is paid back while each borrower is required to send an affidavit in court.
The total loan package is N 166,000 per hectare, including fertilizers , herbicides, seeds and others for EOP, which are to be reimbursed after harvest, which could be divided into two seasons of cultivation.
Hon Usman Kwotu, member of the Association, denouncing the conditions, said that if he were allowed to proceed, it would kill President Muhammadu Buhari’s good intentions as leader of the government’s agricultural policy.
“We condemn the whole process, that farmers can not meet the requirements of this current prototype, since the prices of the products are not in line with fact.”
He also accused MAAN of hijacking the entire loan cycle in its favor, saying that the Niger State will feed the whole country if machinery is properly set up.
However, MAAN State Secretary Adamu Jibrin, who asked why his members protested, argued that the beneficiaries accepted earlier the terms of the loan during their training.
He said, “The CBN loan is just a 9% interest loan plan and is worthwhile. The prices of the item will be deducted from the total package and balance to be given to the beneficiaries and the deposit N3,000 is to be charged for the transportation, storage and protection of the goods. And, between 60 and 80 bags, a hectare will produce so it is of benefit to farmers.