Five year moratorium (interest free) loan that would encourage subsistence farmers nationwide have been advocated by the Manufacturers Association of Nigeria (MAN).
It said such incentives when backed by the right approach could put the Nigeria economy on the path of greatness and achieve its potentials.
At the 28th annual general meeting of MAN last weekend in Benin City, the Edo State Capital, Executive Director, Nigeria Institute for oil palm Research (NIFOR), Dr. Omorefe Asemota said there is need for reduction of interest rate.
Asemota flayed policy summersault as threat to any developing society. He identified lack of funds by states government to complement N9 billion grants by the Federal government as unacceptable.
He said, “The tinning armies of small holders should be expanded by combining aggregates of farmers to access opportunities in the nation’s agricultural sector. “…Our interest rate for me is still too high.’’
Branch chairman of Edo/Delta MAN, Mr. Humphrey Masodje disclosed the association’s plans to create an Industrial park.
Masodjie who described the 2014 AGM theme “Exploiting the Economic Potentials of Agricultural Development of Edo and Delta states’’ as timely.
He urged members of the association that complaints arising from multiplicity of taxes nationwide have engaged Stakeholders attention.