Kaduna — The Kaduna State govern-ment has started the dis-bursement of N1 billion as loans to farmers under a partnership with the Bank of Agriculture (BOA).

Governor Mukhtar Ramalan Yero, who spoke at the flag-off of distribution of cheques to benefiting farmer cooperative groups and individual farmers Wednesday, said the scheme was aimed at financing farmers to increase agricultural yields.

“The loan scheme is a convenient means of raising funds to finance agriculture and agro-allied businesses in view of the attractive interest rate chargeable which is only 5%, very short period of loan processing and disbursement,” he said.

Managing Director of BOA, Mr. Babatunde Sadiku, said it was noteworthy that all stakeholders in the arrangement had embra-ced agriculture as an enduring renewable resource with positive impact on employment generation, food security and poverty reduction and this can drive inclusive growth in Nigeria.

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