The Maize Association of Nigeria (MAAN) has flagged off repayment of the 3 Billion Naira loan it accessed in Katsina state through the Central Bank of Nigeria Anchor Borrowers programme as reported by Voice of Nigeria.
This is to ensure that farmers are able to access more loans in the future for improved production.
The event which took place in Daura Local Government area of Katsina state North- West Nigeria saw farmers repaying their loans with part of their yields worth.
The National President of Maize Association of Nigeria Mr. Bello Abubakar urged beneficiaries of the loan to promptly pay up as the association will not spare any member who defaults in the loan repayment.
“I want to use this opportunity to call on beneficiaries of this programme to quickly summit their produce and repay their loans as at when due as MAAN will not spare any member who defaults”, he said.
Mr. Abubakar urged maize consumers in the country to partner with the association for the supply of the produce when needed.
“All maize users are strongly advised to partner with us for any type and quantity of maize needed; we assure you that we will meet your needs, we have done it before in 2016”
The President noted that the association produces enough maize to cater for the need of all Nigerians.
He also called on the Central Bank of Nigeria to review the interest rates of the Anchor Borrowers programme for easy repayment. Also, for the people to be encouraged in getting more loans.
On the partnership with the Ministry of Agriculture, Abubakar said the Ministry should consider most of the commodity associations by buying grains from them.
The Special Adviser to the Katsina state Governor, Abba Abdullah said the state will continue to facilitate the promotion of commodity association based Anchor Borrowers programme.
He added that the state is also restructuring cooperatives to be based on commodity associations so they can have a say on issues that relates to them.