• Privacy Policy
  • Terms
  • About us
  • Contact Us
  • Staff Email
Saturday, June 28, 2025
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home Agriculture

Otu unveils N30bn commercial agric development fund

Fund

The Matters Press by The Matters Press
December 24, 2023
Reading Time: 2 mins read
0
Vulnerable Nigerian farmers to get $1m grant

Calabar, Dec. 24, 2023: The Cross River Government on Saturday announced plans to unveil a N30 billion commercial agric development fund that would enable farmers to have access to loan as part of efforts to ensure food sufficiency and boost agriculture in the state.

RELATED POSTS

Tinubu’s N60b Intervention in Gombe Agro-Livestock Zone excites group

N1.5trn recapitalisation of Agric bank will herald food security – TMV

Lamido Wrong on Tinubu’s June 12 Role, haunted by his anti-democratic past- TDF

The state Commissioner for Agriculture and Irrigation Development, Mr Johnson Ebokpo, and his counterpart of the Information, Mr Erasmus Ekpang, jointly announced in Calabar.

Ebokpo said the fund which would be provided and guaranteed by the state government, would be warehoused by a consortium of banks.

He said the fund was meant to move farmers from subsistence farming to commercial farming and at the same time boost agricultural value chain in the state.

Ebokpo said that the project would focus on boosting maize, cassava, aquaculture and rice farming and also to ensure all- year-round farming in the state.

He said the reason for the government intervention was to address the difficulty encountered by farmers in accessing loan facilities.

“We have for instance flour mills in Calabar which had to rely on maize supply of about N60 billion annually from Kano, Kaduna and other states from the North.

“Cross River has about 1.8 million hectares of arable land suitable for all sorts of agricultural purposes but does not have the fund to cultivate much maize to feed the flour mill here.

“What the government of Prnce Bassey Otu is trying to do is to commit this fund with the consortium of banks where farmers can have access to it for six years.

“Principally, the fund is coming from the state government but the banks and international development partners can bridge the gap when they see the commitment of the government,” he said.

Similarly, the information commissioner said that the state would soon launch the Code River State -Wide Irrigation Infrastructure Development Project (SWIID).

Ekpang said that the aim was to promote all-year-round agricultural production and also to attract investments in the cassava sub sector.

To actualise this, he said that the state had developed a Cassava Value Chain Development Policy framework to public private partnerships.

“The governor had embarked on an aggressive drive to reduce fiscal wastage and subsidise productivity in a manner that would foster long-term prosperity.

“The government had made tremendous roads into the agricultural sector. This administration had commenced soil survey and fertility mapping of Cross River State.

” The government has also embarked on aggresive elevation of the state oil palm production status with the development of 3.5 million oil palm seedling nurseries in 13 designated locations across the state,” he said.

The commissioner also said the administration had equally commenced the Home Stead Farming Project to mitigate food insecurity and resultant high cost.

Tags: Fund
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

$2.5 billion JBS investment, a big economic victory for Nigeria –  TDF
Economy/Technology

Tinubu’s N60b Intervention in Gombe Agro-Livestock Zone excites group

June 27, 2025
ActionAid, SWOFON call for urgent completion of BOA recapitalisation
Agriculture

N1.5trn recapitalisation of Agric bank will herald food security – TMV

June 26, 2025
Lamido Wrong on Tinubu’s June 12 Role, haunted by his anti-democratic past- TDF
Energy

Lamido Wrong on Tinubu’s June 12 Role, haunted by his anti-democratic past- TDF

June 25, 2025
Tinubu’s Visit to Benue, Mark of True Leadership, Renewed Hope
News

Tinubu’s Visit to Benue, Mark of True Leadership, Renewed Hope

June 25, 2025
79 candidates for presidential election
News

Tinubu’s new INEC building: A consolidation of democratic institutions, legacy in Nigeria – TDF

June 23, 2025
Gombe: Troops take over to enforce peace
News

Nigerian Army kills 6,260 terrorists, rescues 5,365 civilians in 2 years

June 20, 2025
Next Post
NERC declares meters free under mass scheme

148,389 meters installed in Q3, 2023-NERC

Tinubu taking measures against reforms’ challenges – Onanuga

Tinubu taking measures against reforms’ challenges – Onanuga

Recommended Stories

Tobacco company reaffirms commitment to diversity, equity

British American Tobacco beliefs in Nigeria’s investment potential

February 3, 2024
Buhari unveils redesigned naira notes

Nigeria pegs withdrawals from bank as redesigned notes hit market

December 6, 2022
Experts seek implementation of economic development plans

Don’t depend on world economy, Muoka charges worshippers

December 26, 2022

Popular Stories

  • Rising prices of goods cause protests in Morocco

    Rising prices of goods cause protests in Morocco

    0 shares
    Share 0 Tweet 0
  • NLNG not responsible for gas supply shortfall, price hike

    0 shares
    Share 0 Tweet 0
  • NCC sets fresh operational fees, spectrum prices for telecom operators

    0 shares
    Share 0 Tweet 0
  • Hoarding causes hike in prices of grains

    0 shares
    Share 0 Tweet 0
  • Prices of Petrol, diesel increase in November

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • Tinubu’s N60b Intervention in Gombe Agro-Livestock Zone excites group
  • N1.5trn recapitalisation of Agric bank will herald food security – TMV
  • Lamido Wrong on Tinubu’s June 12 Role, haunted by his anti-democratic past- TDF

Categories

  • Agriculture
  • Economy/Technology
  • Energy
  • Entertainment/sports
  • Features
  • Foreign
  • Multimedia
  • Natural Resources
  • News
  • Oil and Gas
  • Photo
  • Politics
  • Security
  • Thematterspress
  • Uncategorized
  • Video

© 2025 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2025 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Call Us