Governor Umaru Bago has unveiled plans for a state-owned cooperative bank in Niger State to provide smallholder farmers with accessible, low-interest loans, aiming to boost agricultural productivity and support the state’s agricultural revolution agenda.
Speaking at the flag-off of the Federal Government’s free agricultural input distribution for smallholder farmers’ associations in Minna on Friday, September 12, 2025, Bago announced that the bank will operate as a microfinance institution.
It will offer soft loans to agricultural cooperatives, bypassing the high interest rates and bureaucratic delays of commercial banks. “This will ease access to finance and reduce the burden on farmers,” he said.
The state government will inject ₦2 billion as seed capital to launch the bank and urged cooperatives to open accounts once it is operational.
Bago emphasized that the initiative will drive job creation, enhance food production, and improve farmers’ livelihoods.
To ensure success, the state will collaborate with federal and private sector stakeholders. Additionally, Bago revealed a 2026 pilot scheme targeting two million women in agriculture, providing them with goats, sheep, poultry, crop seedlings, and extension services to bolster productivity.
Click to signup for FREE news updates, latest information and hottest gists everyday
Advertise on NigerianEye.com to reach thousands of our daily users
