Bnin City - EDO State House of Assembly has approved a loan of N11 billion sought by the state governor, Mr Godwin Obasski, for the development of the agricultural sector, wealth and jobs creation in the state.
The approval was sequel to the state governor’s letters dated May 2 and 5, 2017, respectively, to the House requesting its approval for the loan from the Central Bank of Nigeria, CBN.
He noted that the state legislature’s resolution was part of conditions to access the loan facility from the apex bank.
The loans to be accessed by the state government are N6 billion from the Central Bank of Nigeria, ANCHOR borrower’s loan facility and N5 billion to fund agro-project in Edo State.
The House also approved the governor’s request to access the Federal Government Special Intervention on Fertilizer programme.
Obaseki had said that the N5 billionn requested for agro-projects in the state would be utilized for agricultural development of 5,000 hectares and establishment of five green houses for tomatoes and vegetable productions, 120 fish ponds.
The first letter, entitled, “Request to access the Federal Government Special Intervention on Fertilizer” stated that government had approved the proposal to access the fertilizer intervention programme.
The governor said that the funds would make fertilizer available to farmers, encourage the production of soil and crop specific fertilizers in the country.
He added that it was aimed at resuscitating all moribund fertilizer plants across the country as well massive wealth and job creation in the state.