RIFAN urges farmers in Katsina to repay ABP loans

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The Nigeria Rice Farmers Association (RIFAN) in Katsina has encouraged its members, who have benefited from the first phase of the Anchor Borrowings Program (ABP) to repay loans.

The chairman of RIFAN, Alhaji Shuaibu Wakili, called in an interview with the Nigeria news agency (NAN) in Daura on Tuesday.

The Nigeria News Agency (NAN) reports that at least 56,000 farmers in 36 local government districts of Katsin State provided loans to ABP for their seasonal agriculture in 2017.

Wakili reminded the beneficiaries that the loan repayment period is one year, as stipulated by the preconditions for ABP loans, stating that they must repay loans in a timely manner so that others can use the revolving loan scheme.

He said that farmers would have to repay loans using bags of rice rice as stipulated by the terms of the loan.

“We expect each farmer to provide 10 bags of rice per hectare, since the number of registered hectares for an individual farmer or group determines the number of bags that will be presented as redemption,” he said.

Vakili urged farmers to accelerate the repayment of their loans, as preparations began to allocate loans for agricultural production of the dry season of 2018.

He promised that the association would expand the program to house and register at least 80,000 farmers for farming during the dry season.

He said that beneficiary farmers would have to repay ABP loans through their respective RIFAN chairpersons of the local authorities, adding that adequate measures had been taken to ensure compliance.

“The sooner the loan is repaid, the better for the beneficiaries and the anchor borrowers scheme, since it is expected that the loan will rotate differently,” he said.

The chairman of RIFAN praised the federal government for introducing ABP, stating that this scheme had produced many millionaires and created thousands of jobs for citizens.

He emphasized that this scheme has reduced poverty and unemployment by about 65 percent in the state of Katsina.

In addition, Wakili said that RIFAN controlled the distribution of fertilizers, sprayers, insecticides, herbicides, seedlings and water pumps for rice farmers.

He praised the federal government and the state of Katsin for their attention to the agricultural sector, calling it unprecedented and stating that farmers have never been so good.

He also thanked the Central Bank of Nigeria and other coordinating banks for the efficient and timely payment of ABP loans, adding that the bank of the tops did a lot to solve the problems facing farmers.

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