Governor Umaru Bago has announced plans to establish a state-owned cooperative bank in Niger State to provide smallholder farmers with affordable, low-interest loans aimed at boosting agricultural productivity and advancing the state’s agricultural revolution agenda.
Speaking at the flag-off of the Federal Government’s free agricultural input distribution for smallholder farmers in Minna on Friday, September 12, 2025, Bago said the bank would function as a microfinance institution, offering soft loans directly to agricultural cooperatives to bypass high interest rates and delays associated with commercial banks.
The state government will provide ₦2 billion as seed capital for the project and urged cooperatives to open accounts once operations begin. According to him, the initiative will promote job creation, increase food production, and improve farmers’ livelihoods.
Bago also disclosed plans for a 2026 pilot scheme targeting two million women in agriculture, who will be supported with goats, sheep, poultry, and crop seedlings. He added that the state would partner with federal and private sector stakeholders to ensure the program’s success.
Source: https://www.nigerianeye.com/
