Jumoke Olasunkanmi
To enhance food sufficiency and bolster the agricultural sector, the Cross River government has announced plans on to introduce a N30 billion commercial agricultural development fund that would provide farmers with access to loans.
The joint announcement was made by the Commissioner for Agriculture and Irrigation Development, Johnson Ebokpo, and the Commissioner for Information, Erasmus Ekpang, in Calabar on Saturday.
Ebokpo emphasised that the fund, guaranteed by the state government and managed by a consortium of banks, aims to transition farmers from subsistence to commercial farming, thereby boosting the agricultural value chain in the state. The focus of the project includes enhancing maize, cassava, aquaculture, and rice farming, along with promoting year-round farming.
“The government’s intervention addresses the challenges faced by farmers in accessing loan facilities. The fund, primarily from the state government, will be available to farmers for six years through the consortium of banks, with potential contributions from banks and international development partners,” explained Ebokpo.
He highlighted the significance of the initiative in addressing the maize supply chain, citing the dependence on northern states for a substantial annual supply to local flour mills in Calabar.
“We have, for instance, flour mills in Calabar, which had to rely on a maize supply of about N60 billion annually from Kano, Kaduna and other states from the north. Cross River has about 1.8 million hectares of arable land suitable for all sorts of agricultural purposes but does not have the funds to cultivate much maize to feed the flour mill here.
”What the government of Prince Bassey Otu is trying to do is commit this fund to a consortium of banks where farmers can have access to it for six years.”
Meanwhile, Ekpang also revealed plans for the ‘Code River State-Wide Irrigation Infrastructure Development Project’ (SWIID). He said that the initiative will facilitate year-round agricultural production and attract investments in the cassava sub-sector, adding that the state has developed a policy framework for public-private partnerships for value chain development.
“The government, under the leadership of Governor Prince Bassey Otu, is committed to reducing fiscal wastage and subsidizing productivity. Soil surveys and fertility mapping have commenced, and efforts are underway to elevate the state’s oil palm production status, with the development of 3.5 million oil palm seedling nurseries in 13 designated locations across the state,” said Ekpang.
He also highlighted the implementation of the Home Stead Farming Project, designed to mitigate food insecurity and reduce associated costs. Noting that the government’s multifaceted approach underscores its commitment to transforming the agricultural landscape in Cross River State.
