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The Federal Government will recapitalise the Bank of Agriculture to the tune of N3tn in order to enable farmers in the country have access to funds at affordable interest rates.
The Minister of State for Agriculture, Senator Heineken Lokpobiri, said this at the inaugural harvest of a Tilapia fish farm belonging to Premium Aquaculture Limited, Oyan Dam, in Abeokuta.
He noted that access to funding remained one of the biggest challenges faced by farmers in the country.
Lokpobiri lamented that commercial banks were not ready to fund agriculture, hence the decision by the Federal Government to recapitalise the Bank in order to boost the agricultural sector.
