Aquaculture for all

Fish Farmers Get N5m Loan

Economics +1 more

NIGERIA - Fish farmers in Ebute-Afuye community in Epe in Lagos state have received 5 million naira (NGN) in loans to boost fish production, a representative of USAID, Saheed Lawal, has said.

Mr Lawal made this known while speaking at the "2008 Epe Agric Show" at the recreation ground in Epe in Lagos, according to Daily Triumph.

He said more than ten fish farmers in the community received loans of NGN 300,000-500,000 from the First Bank of Nigeria Plc.

Mr Lawal said the loan, facilitated by the USAID, was in response to earlier distress call by the farmers in the area, who could not afford high quality feeds.

He explained that earlier efforts by a non-governmental organisation (NGO) to source for loan to assist the farmers was frustrated by the financial institutions.

He said with the support of the USAID-market initiative, the fish farmers were granted the loans at commercial rate.

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