NACRDB Invests N29 Billion on Agric Projects
Posted by ASCE (admin) on Thursday, 24th July, 2008 at 10:22 AM
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The Nigeria Agricultural Cooperative and Rural Development Bank (NACRDB) had invested N29 billion in over 500,000 agricultural projects across the country in the past seven years. The Managing Director of NACRDB disclosed this when the members of the senate committee on Agriculture visited the bank in Kaduna recently. He said that thes bank disbursed N25 billion to 566,443 people for projects and N4 billion for other agric projects through other institutions. .

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The Managing Director said that the banks achievements include creation of over six million employment opportunities, promoting and improving the nation’s agricultural production base and enhancing food security. The Managing Director further said that the bank has helped in reducing the incidence of poverty at the grass root by opening up the rural economy. He however posited that one of challenges of the bank is paucity of fund that hindered proper planning.

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Source: Business Times. June 30, 2008. Page 7.

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