Bauchi govt grants N1bn loan to fertilizer company

Governor Bala Mohammed of Bauchi state has granted a loan of One billion to the state fertilizer company to boost its production.

The governor announced the grant Tuesday when he paid a visit to the company in continuation of his projects inspection tour across the state. 

According to him, the government has also settled the backlog of debts amounting to N700 million indepted by the company.

He claimed that the company supplies fertilizer to all farmers in the state and the north east opining that with the financial support given to it by the government, the company could extend the supply to other parts of the north.

“Considering the fact that 99 per cent of the population of Bauchi state are farmers and only one per cent are civil servants, but almost all the federal grants we collect monthly amounting to N6 billion N7 billion are expended on salaries. We therefore feel that we must boost agriculture and support our farmers who produce food for us”. He said.

He therefore asked the management of the company to reciprocate the gesture by making good use of the funds and improving the supply of the product to farmers.

In his remarks, the chairman of the company Alhaji Bappa Aliyu Misau expressed appreciation to the governor for the gesture saying the money would boost the company’s production and profits.

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