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Home Entrepreneurship Katsina gov’t to shoulder interest rate on tractors sold to farmers 
Katsina gov’t to shoulder interest rate on tractors sold to farmers 

Katsina gov’t to shoulder interest rate on tractors sold to farmers 

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The Katsina State Executive council during their last meeting chaired by Governor Aminu Bello Masari at Muhammadu Buhari House has rresolved to shoulder the interest on tractors to be sold to tractor owners association of Nigeria – TOAN in Katsina state to improve mechanization of agriculture in the state. 

The special Adviser to the Governor on Agriculture, Dr Abba Abdullahi disclosed this to newsmen shortly at the end of the meeting. 

According to him, initially it was agreed that the banks would charge 19 percent interest but later changed to 21 percent interest. 

However, Dr Abba Abdullahi explained that this was scaring away farmers from purchasing the tractors, adding that with government bearing the interest rate, the farmers would be encouraged to procure the tractors.

Also speaking, the special Adviser to the Governor on Economic Empowerment, Alhaji Abdulkadir Mamman Nasir revealed that the meeting had approved for a bill on contributory pension scheme to be sent to the state house of assembly to be enacted as a law for the scheme to take off in the state.

READ ALSO: Masari buys 225 Mahindra 60hptwo-wheel tractors for Katsina farmers

Alhaji Abdulkadir Mamman Nasir recalled that the state government had earlier set up a committee under the chairmanship of the secretary to the government, Dr Mustafa Inuwa, which had submitted its report on the contributory pension scheme.

He said the bill, which was deliberated by the executive council was the outcome of the report submitted by the committee.

He gave assurance that the passage of the bill into law would make problems associated with payments of pensions and gratuities to be a thing of the past.

The press briefing on the outcome of the Executive Council meeting was Co-ordinated by the state commissioner of information, culture and Home Affairs, Alhaji Hamza Muhammad Borodo.

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