Executive Council Meeting Held On Tuesday 14/03/2017

In line with State Government’s aggressive
approach to revolutionising Agriculture in
the state through provision of Agriculture
Loan Support to farmers, procurement of
adequate ferlizer for production of variety of
farm produce, promotion of poultry and
livestock production, provision of access
roads to Fadama areas, procurement of
tractors and other agricultural equipment,
establishing of agricultural processing
companies and other related activities, the
State Executive Council has considered and
approved for the State Government to
access Five Billion Naira (N5,000,000,000.00)
loan facility under the Commercial
Agriculture Credit Scheme of the Central
Bank of Nigeria(CBN) at the interest rate of
9% per annum.
The loan will be repaid over a period of
Ninety Six Months (8 years) through
irrevocable Standing Payment Order (ISPO)
to be deducted at source by the Accountant
General of the Federation as a first line
charge against the state’s monthly statutory
allocation (FAAC). it is expected that the sum
of N73,251,016.37 covering capital and
interest will be deducted monthly.
The council approval will be presented to
the Jigawa State House Of Assembly for
Legislation and subsequent authoritization
of the loan facility.
Signed:
Alh Bala Ibrahim,
Honourable Comm of Information, Youth,
Sports and Culture.

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