• Monday, March 04, 2024
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BOA set to review loans to farmers

agricThe Bank of Agriculture (BOA) on Thursday said it would review its loan facilities to farmers to target peculiar planting seasons and their needs.

The South-West Zonal Manager of the bank, Mr Olusegun Ashiwaju, said in Lagos that most farmers had complained of the delay in disbursing the loans to them.

“The issue of interest rate is not the major challenge to farmers but the timeliness of the loans because most of the sectors under agriculture have their seasons.

“Even in poultry farming, animal husbandry and crop planting, they all depend on timely release of fund, so farmers want timely involvement of fund.

“BOA is a development finance institution that encourages the growth and development agriculture and also meets the requirement of farmers,” Ashiwaju said.

The manager said the review would enable farmers to access fund at the appropriate time which would enhance the production of agricultural commodities.