what do u people think about this 200 billion naira agricultural loan is it a national cake.
With this their bank charge can poor farmers like us get loan

Nigerian farmers have moved against the limiting of the administration of the N200billion Agric Credit Scheme to only United Bank for Africa(UBA) and First Bank Nigeria Plc(FBN).
To this end, they have called on government to increase the number of participating banks involved in the disbursement of the N200 billion agricultural loans.

Nigeria's Agric sector to get 15 billion Naira boost

The Nigerian government is making plans to recapitalise the Bank of Agriculture (BOA) with 15 billion Naira (about 96 million dollars) to make the bank stronger and more efficient.
Dr Mohammed Santuraki, the Managing Director of the BOA, explained that the 15 billion Naira would shore up the bank's current capital, which was 30 billion Naira, to 45 billion Naira.
“This is in line with the agricultural transformation agenda of President Goodluck Jonathan's led administration,'' Dr. Santuraki told reporters on Wednesday in Sokoto shortly after he paid a courtesy visit to the Sultan of Sokoto, Alhaji Sa'ad Abubakar.

‘Provide more food'Santuraki said that the bank had in the last 10 years distributed 43 billion Naira as loan facilities to farmers across the nation. SOURCE:NAN


“These loan facilities were provided to both dry and wet season farmers in the agriculture value chain to finance a myriad of farming activities…These included NGOs and other stakeholders in the nation's agriculture sector which is being revived by President Jonathan," he said.

The BOA boss said that the bank intended to advance 20 billion Naira loan to Nigerian farmers in 2013 in line with President Jonathan's resolve to provide more food on the tables of Nigerians.

“The micro farmers will each get a minimum of 250,000 naira; medium scale farmers, five million Naira each; while each of the large scale farmers will get above 5 million Naira," he said.

Santuraki decried the current state of Nigeria as a net importer of food, especially rice and wheat.

The govt is definitely doing its best to provide employment and raise the standard of living in the country. The onus is on the citizens to reciprocate govt good gestures by utilising the fund well.

The massive corruption involved in getting loans from govt institutions such as BOA and NEXIM defeats all "acclaimed" achievements of all these fund. You will never get more than 60% of the amount sought. Normally the corruption costs on each lone is at least 20%.

Noted