Osinbajo reiterates FG’s commitment to assist businesses to
thrive
President Mohammadu Buhari has given a directive to raise
funds to support agriculture and industry at single digit interest rate.The
Minister of Agriculture and
Rural Development,
Audu Ogbeh, at the NACCIMA/NIRSAL agribusiness conference held yesterday
in Abuja said the president stated this at the federal executive council
meeting.
He disclosed that the committee, headed by the Vice
President, would ensure they keeping the
interest rate at 10 per cent.Stressing the need to restructure agricultural
credit, he said: “At the council of ministers meeting, the president gave a
directive to raise fund to support agriculture and industry at one digit
interest rate.
“If we don’t keep the interest rate as minimum as it should,
there is trouble ahead. Manufacturing is not so easy, other countries support
agriculture, in every farm in Europe government support it with six euros per
day.”
He lamented the inaccessibility of finance for agriculture,
noting that farmers cannot borrow at 25 per cent interest rate as there is no
production business that one can engage in with such interest rate.He said
because the country is operating a federalism system of government has made it
impossible for the Federal Government to interfere in the affairs of states
He lamented that despite increased focus on agriculture,
there are states that does not have a single working tractor for farmers. He
urged the private sector to put pressure on the governors and local government
chairmen to do the right thing.
Meanwhile, Vice President Yemi Osinbajo yesterday restated
the determination of the administration to empower Nigerians if those in
government resist the temptation to corner the nation’s resources to satisfy
personal greed.
Speaking in Osogbo, where he flagged off Government Enterprises and Empowerment
Programme (GEEP), Osinbajo said the ruling All Progressive Congress (APC) came
to power because ordinary people on the streets gave it overwhelming support in
order to give the nation a lease of life.
He said, “When I arrived here I have seen for myself some
products that should be supported by our administration. Our government will
continue to work very hard to support them by making available resources to
boost their businesses.’’
Governor Rauf Aregbsola said for serious-minded people ready
to do business, his administration and government at the centre would do
everything possible to enhance ease of doing business in order to boost the
economic capacity of the society.
His words, ‘‘for those ready to do business, there are
abundant opportunities to create wealth and urged citizens of the state to key
into GEEP to improve their businesses. ‘’
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