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Agric Loans: Buhari Directs CBN, Agric Ministry to Bypass Collateral

President Muhammadu Buhari has directed the Ministry of Agriculture and the Central Bank of Nigeria (CBN) to bypass the knotty issue of collateral which he described as “a terrible colonial legacy,” so that farmers will get easy access to capital.

The President gave the directive during an audience with members of the United Kingdom-based Foundation for Good Governance for Development in Nigeria at the State House, Abuja.

According to the President, a top priority of his administration is to ensure that the efforts of hardworking Nigerian farmers are respected.

President Buhari also identified smuggling as a threat to domestic agricultural production and processing, and promised to continue to fight the menace with all means available to government.

(NAN)

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