Nigeria plans $3.2 bn capitalization for farming lender

Nigeria plans $3.2 bn capitalization for farming lender

Nigeria plans to capitalize its state-owned Bank of Agriculture with 1 trillion naira ($3.2 billion) and will allow the lender to take deposits as Africa’s most-populous nation seeks to boost farming output and reduce food imports. “We are looking at 25 million farmers” as stakeholders or depositors, Agriculture and Rural Development Minister Audu Ogbeh said…

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