Valentine farms, one of the 13 Shongai farms may not be accessing a N2 billion loan from the Central Bank Of Nigeria anytime soon. A non government organization Movement for Genuine Change, has voiced its opposition to the loan. These are their reasons for opposing the planned loan.
- The present ownership of Shonga farms is unclear.
- Products of Shonga farms are hardly seen in the market.
- The state government has pumped billions into the farm yet it remains comatose.
- Residents of the state are yet to benefit from the farm.
The apex bank may decide to keep disbursement of the loan on hold, due to these allegations. This would prevent the farm from having access to much needed funds for expansion.
Shongai farms is made up of 13 farmers who were invited to Shonga, Kwara state by the then governor BukolaSaraki. The farmers left Zimbabwe after their lands were taken over from them by the Mugabe government.
The project is a joint venture between the farmers, several commercial banks and the Kwara state government. Shonga farms holdings which is owned by the commercial banks and the Kwara government has a 60% equity holding in each of the 13 farms. The farmers hold the remaining 40%.