The Chairman of All Farmers Association of Nigeria (AFAN), Lagos State chapter, Chief Femi Oke, has disclosed that the group has partnered a foreign company to access a $26million loan.
Oke said the loan was said to ease famers financial challenge and pursue their goal in supporting economy growth.
Oke disclosed the partnership on Thursday during a meeting of members of the association held at the Lagos State Agricultural Development Authority , Oko Oba, Agege.
He said there was need for the state government to sign a collaborating grant to support AFAN.
He also urged the state government to support farmers in areas such as transportation , machinery , storage and seedlings.
“A foreign company has agreed to support us with $26million loan with a reasonable percentage of 23 per cent of repayment of the money. It will ease farmers to access loan and a defined feasibility study was done across all our commodities such as crops, livestock and integrated farming.
“The foreign company told us we can only collaborate with government before we can get it. We are going to solicit the support of our state government to access and utilize the loan . The loan will be disbursed to us by March . The company wants government support before investing their money.I won’t disclose the identity of the company to avoid hindrances because it is an important contract. The company is sending team to Nigeria that will monitor the loan.”