The Niger State Government has announced plans to establish a state cooperative bank dedicated to agriculture, to give farmers quick and easy access to soft loans.
A statement on Friday by the Governor’s spokesperson, Bologi Ibrahim, said Governor Mohammed Umaru Bago, also known as the “Farmer Governor,” made this known during the official flag-off of free distribution of agricultural inputs to smallholder farmer associations for year-round farming across the state.
The statement quoted the ‘Farmer Governor’ saying that the bank will function as a microfinance institution, offering loans to agricultural cooperatives at affordable rates to ease the burden of high-interest charges by commercial banks and eliminate cumbersome loan processes.
He revealed that the state government has earmarked N2 billion as seed capital for the bank’s take-off, encouraging cooperatives to open accounts when it becomes operational to access the soft loans.
He also explained that the initiative is part of his administration’s agricultural revolution policy, designed to create jobs, improve yields, and boost the financial status of residents.
The ‘Farmer Governor’ further disclosed that relevant stakeholders from the federal government and the private sector will be involved in driving the project’s success.
In addition, he announced a pilot scheme targeted at two million women in agriculture from 2026, under which beneficiaries will receive goats, sheep, poultry, crop seedlings, and other farming inputs alongside extension services to strengthen agricultural productivity in the state.
