Recession: Agric Bank to Assist Farmers, Youths with Loans

Farmers Farmer

By Yinka Kolawole

The Bank of Agriculture (BOA) has pleged to provide financial and other support services to farmers and youths  in the country to boost food production through mechanised farming system.

The Executive Director of the bank, Mr Babatunde Igun  stated this on Thursday  during a courtesy visit to the Ooni of Ife, Oba Adeyeye Ogunwusi,  in Ile-Ife.

Igun contended that the bank would also be ready to collaborate with the Ooni on youths’ engagement in mechanised farming.

He noted that  with the  dwindling crude oil price and its effects on the nation’s economy, there was urgent need to assist farmers and youths towards economic diversification through mechanised farming.

According to him, “We have all seen the dwindling effects of crude oil price on our economy in the last one or two years.”

  • Maxim Dibrov

    i think it is very perspective to help the farmers, because nowadays we have forgotten about agriculture and think only about gadgets and so on and so on. This means, if you assist farmers, this will give you much profit. Share your thought here abou agriculture and modern technologies: .

  • Reasonmore

    The youths need industry where they could work and earn their living. Farming is not for the youths. The loans would be diverted into consumer goods like expensive electronics, automobiles and other purposes but never for Agriculture.