BARAU’S FOUNDATION SIGNS MOU WITH BOA ON N2.79BN LOAN SCHEME TO RAISE 558 MILLIONAIRE FARMERS 20-02-25
By Sadiq Aminu Two weeks after announcing his plan to raise 558 young millionaire farmers across the seven states and 186 local government councils in the North West geopolitical zone, the Deputy President of the Senate, Senator Barau Jibrin, has signed a memorandum of understanding ( MoU) with the Bank of Agriculture ( BOA) on implementing the scheme with N2.79 billion through his foundation.
The DSP made the announcement through his Special Adviser on Policy and Monitoring, Professor Bashir Muhammad Fagge, that the N2.79 billion loan scheme to raise 558 young millionaire farmers is premised on Barau’s Initiative for Agricultural Revolution in Nigeria ( BIARN).
The project is being implemented through the Barau jibrin Foundation (BIJF).
At the signing of the Memorandum of Understanding with the Bank of Agriculture in his office, Senator Barau said he came up with the initiative to complement the Federal Government’s policies on food security and food sufficiency in the country.
” This initiative is geared towards revolutionising agriculture in the North West by at the first stage , raise 558 young farmers millionaires in the zone .
” The N2.79billion loan scheme being activated with signing of Memorandum of Understanding ( MoU) with the Bank of Agriculture today , will not only drive productivity in the agricultural sector in the North West but facilitates prosperity through provision of jobs for teening youth , 558 of who will be young farmers millionaires with N5million loan offer .
” The envisioned young farmers millionaires will be employers of labour who on their own, will also raise millionaire farmers being people expected to make the best from the opportunity.
” Targeted beneficiaries across the seven states and 186 local government councils in North West, are Higher National Diploma ( HND) Bachelor’s Degree, Masters Degree and Ph:D holders.
” The ultimate goal of this scheme as stated earlier is to serve as catalyst for realisation of renewed hope agenda of President Bola Tinubu who for the first time in the history of the country , is boosting the capital base of Agriculture with over a trillion naira “, he said.
In his remarks, the Managing Director of Bank of Agriculture ( BOA), Alwan Ali Hassan, assured Senator Barau that his initiative on the loan scheme would be well implemented
” BOA is very happy with the initiative to revolutionize Agriculture in Northwest geo – political zone towards raising 558 young farmers millionaires in the area of Maize and Rice cultivation “, he said.