Out of N9.4 billion loans disbursed by banks in the Nigerian agricultural credit guarantee scheme in 2013, individual borrowers got the largest share of N8.67billion, or 92 percent of the total facility.
A report of activities under the scheme from the Central Bank of Nigeria (CBN) showed that about 54,381 people across the 36 states got the sum of N8.67 billion agric loans from banks.
Other sectors that received the loans include 1201 co-operative groups which received the sum of N373 million; 629 informal sector groups with N182 million; and 66 companies that collected N197million in 2013, according to data published by the CBN last week.
The figure shows that a total of 56,277 loans were approved in the period under review.
Three states that got the highest amounts of the loans are Edo N854 million, Delta N758 million and Katsina N739 million.
The states with the lowest amounts include Borno N33 million, Nasarawa N42 million and Bayelsa with N58 million.
Based on loan size category, the banks disbursed N7.2 billion for those that required N100 million loans and above; N1.5billion for N50 to N100 million; N696 million for N20 to N50 million; N15.5 million for N5 million to N20 million and N500,000 for those below N5 million.
God bless CBN! God bless Nigeria!
(Culled from Daily Trust of 10/2/2014, reported by Hamisu Muhammed)
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