Senate approves harmonised Agricultural Credit and Guarantee
Scheme Bill
The Senate, on Wednesday, approved the harmonised version of
the Agricultural Credit and Guarantee Scheme (Amendment) Bill, 2017.
This followed the consideration of report of the Conference
Committee on the bill, which was passed by the Senate and the House of
Representatives.
Presenting the report, Chairman of the Joint Committee of
both chambers, Sen. Abdullahi Adamu, said the differences in the versions
passed by both houses had been harmonised and fit for approval.
In his remarks, the Deputy President of the Senate, Ike
Ekweremadu, who presided at plenary, commended the committee for a detailed
job.
He said the bill when made law would help to enhance
agriculture and provide food for teeming Nigerians.
It would fast-track development in the agriculture sector by
providing credit facilities to commercial agricultural enterprises at a single
digit interest.
It would also enhance national food security by increasing
food supply and effecting lower agricultural produce and product prices,
thereby promoting low food inflation.
The bill, when assented to will equally reduce the cost of
credit in agricultural production to enable farmers to exploit the potential in
the sector. (NAN)
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