Thursday, 5 May 2016
How accessible are the Agricultural loans in Nigeria ? It is been long that we have been hearing this stories in Nigeria .From Radio stations , TV stations , News paper pages and Magazines etc. Are this loans accessible to ordinary Nigerians? The loans are not easily accessible to young Nigerians. Where on earth that poor young person that is looking for a loan would afford a collateral in an urban area ? Even if these loans are available the interest rates are high. The truth is , the people in charge of this loans are not helping the matter .Even the loans they claimed they released recently to Central Bank of Nigeria and Bank Of Industry ,BOI , is not easy accessing them .It is very difficult and frustrating trying to apply for Agricultural loans from this institutions .If really the government want to diversifying the economy to agriculture and really want to encourage young people to venture into Agribusiness , it is high time for them to make the loans easy and accessible, if they will never get any reasonable result from Agricultural sector in Nigeria.