The Niger State Government has announced plans to commit N2 billion as seed capital for the take-off of its State Cooperative Bank for Agriculture.
Governor Mohammed Umaru Bago disclosed this, according to a statement issued by Bologi Ibrahim, Chief Press Secretary to the Governor of Niger State, on Friday, titled “FARMER GOVERNOR BAGO MOVES TO EASE ACCESS TO SOFT LOANS FOR FARMERS.”
According to the governor, his administration plans to establish a State Cooperative Bank for Agriculture to enable farmers to have quick and easy access to soft loans for agricultural purposes.
Govt Plans for Smallholder Farmers
- Governor Mohammed Umaru Bago reportedly flagged off the free distribution of various agricultural inputs to smallholder farmers’ associations for year-round farming in the state.
“The Farmer Governor said the state government will provide N2 billion as seed capital for the take-off of the bank and encouraged agricultural cooperatives to open accounts with the bank when it is time to access soft loans,” the statement partly reads.
He explained the bank will operate as a microfinance bank to provide loans to agricultural cooperatives, aiming to reduce the high interest rates charged by commercial banks and the rigorous processes involved.
He stressed that the initiative is part of his administration’s agricultural revolution policy to create jobs and increase both the yield and financial status of the people.
The governor disclosed that relevant stakeholders from the federal government and private sectors will be involved to ensure the initiative’s success.
He also announced that the state government will start a pilot scheme involving 2 million women in agriculture in 2026.
Backstory
Recall that in January 2025, the Niger State Governor revealed that the state generated over N600 billion from agriculture and related businesses in 2024, driven by combined efforts from the public and private sectors.
At the time, the governor did not provide data to support this claim.
Speaking at the event, Governor Bago emphasized agriculture’s significant contribution to Niger State’s economy.
“Last year, we made a profit of over N600 billion in agriculture and related businesses—that is conservatively estimated, including grains production and agro sales in both public and private sectors,” he stated.
“So, to sustain food security, provide employment and engagement, and reduce insecurity and social vices, agriculture is the way forward. The only way we can achieve this is by introducing new techniques and new technology in production,” he said.
The governor further highlighted the need for advancements across the agricultural value chain, including crop production, irrigation, animal husbandry, livestock management, and aquaculture.
