N2.79bn Agricultural Loan Scheme: Barau’s Foundation Partners BOA

The Barau I Jibrin Foundation (BIJF) has signed a Memorandum of Understanding (MoU) with the Bank of Agriculture (BOA) to implement a N2.79 billion loan scheme aimed at raising 558 young millionaire farmers across the North West geopolitical zone.

The initiative, known as Barau’s Initiative for Agricultural Revolution in Nigeria (BIARN), is the brainchild of the Deputy President of the Senate, Senator Barau Jibrin.

According to Senator Barau, the loan scheme is designed to complement the Federal Government’s policies on food security and food sufficiency.

“This initiative is geared towards revolutionizing agriculture in the North West by raising 558 young farmers millionaires in the zone,” he said.

The N2.79billion loan scheme being activated with signing of Memorandum of Understanding ( MoU) with the Bank of Agriculture today , will not only drive productivity in the agricultural sector in the North West but facilitates prosperity through provision of jobs for teening youth , 558 of who will be young farmers millionaires with N5million loan offer .

” The envisioned young farmers millionaires will be employers of labour who on their own, will also raise millionaire farmers being people expected to make the best from the opportunity.

The loan scheme will provide N5 million to each beneficiary, targeting Higher National Diploma (HND), Bachelor’s Degree, Master’s Degree, and Ph.D. holders across the seven states and 186 local government councils in the North West.

The Managing Director of BOA, Alwan Ali Hassan, assured that the initiative will be well implemented and coordinated successfully.

“BOA is very happy with the initiative to revolutionize agriculture in the North West towards raising 558 young farmers millionaires in the area of maize and rice cultivation,” he said.

The ultimate goal of the scheme is to support President Bola Tinubu’s renewed hope agenda, which aims to boost the capital base of agriculture with over a trillion naira.

James Itodo, Edited By Shakirah Alabi