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Tag: agriculture

  • Obaseki’s, Oba Ewuare’s grand plans for agriculture

    The face agriculture in Edo State seems about to change for good, with the grand plans of Governor Godwin Obaseki and the Oba of Benin, Oba Ewuare II, writes OSAGIE OTABOR

    Since he was crowned the 40th Oba of Benin last year, the Bini monarch, Oba Ewuare II, has not hidden his desire to engage youths in his kingdom and Edo State in productive ventures, such as agriculture. The dreams of Oba Ewaure II appeared to be in tandem with the vision of Governor Godwin Obaseki.

    Both came to power in the state three weeks apart. Oba Ewuare II was crowned on October 20, last year while Obaseki was sworn into office on November 12, last year. Obaseki’s great-grand father, Chief Agho Obaseki, was in charge of commerce and trade with the white men during the reign of Oba Ovoranmwen.

    In his inaugural address, Oba Ewuare II said he would partner with government to attract domestic and international resources for the establishment of clusters of Agro-based industries in seven local government areas to ensure youth empowerment and economic development.

    To affirm that he was serious about his vision for agricultural revolution, Oba Ewuare II began move to revive all ‘Ugbo-Oba’ (Oba’s farm) in all communities in the seven local government areas in this year’s planting season.

    Speaking during his first official meeting with his people, the monarch expressed disappointment at the way Edo people have lost interest in farming. His angst was also directed at some traditional rulers and community youth leaders who opted to engage in sales of land and other unwholesome activities instead of farming.

    Oba Ewuare II informed the people that produce from the farms would be sold to low income earners at prices lower than prevailing market prices and that his ascension to the throne was a sign of good things to come to the kingdom.

    He said: “Why is it that we no longer do farming activities. Farming used to be our main occupation but nobody wants to go to the farm again. The Oba has land in all the villages and we plan to reintroduce Ugbo Oba (Oba Farms). People will work there and the produce from the farms will be sold at special markets at reduce prices to the poor.

    “A Committee to be set up will ensure that only the poor have access to buy things from the special markets.”

    A visit to some communities revealed that Oba’s parcels of land were being cleared in preparation for cultivation of crops.

    During a visit of former President Olusegun Obasanjo to his palace, Oba Ewuare II said agricultural development is the only way for Nigeria to move out of economy recession. The monarch told the ex-president that he was interest in farming.

    Last week, Obaseki inaugurated an ad-hoc committee under the Agriculture Empowerment Initiative to revamp agriculture. The committee headed by Chief Osaro Idah is a product of the Public Private Partnership (PPP).

    The state government is in partnership with Saro AgroSciences, a leading company in the agribusiness space with expertise in crop production and protection and Afrinvest W.A. Ltd, a leading financial advisory service provider in Nigeria and West Africa. The plan is to create between 50,000 and 80,000 agricultural jobs in five local government areas.

    The key areas the committee is expected to focus on include cultivation of 5,000 hectares of maize, 10 000 hectares of green house for vegetables and tomatoes, 4000 hectares of piggery as well as provide support to 3000 cocoa farmers to improve their yields for this season

    Obaseki said: “We want to ensure that we begin some agricultural activities before the next cropping season. We want to cultivate 5,000 hectares of maize located in five local government areas of the state producing at least 25,000 metric tons of maize in the first year.”

    There will be another 1,000 Greenhouse Farm producing 4,000 metric tons of tomatoes yearly, piggery producing 30,000 animals annually and the Golden Cocoa Programme primed to turn the state into a major cocoa producing state by improving yield by more than 50 per cent in the first year of implementation.

    Obaseki explained that the partnership would generate employment for the teeming youth population, create wealth through agricultural activities that will lead to the creation of 2000 millionaire Agripreneurs and ensure food security for the over four million people in the state.

    Other members of the eight-man committee include Oluwole Adeyegbe as Deputy Chairman, Mr. B. S. Kadiri as Secretary, and Dr. Tunde Faturoti, Mr Olumide Ogunedojutimi, Mr Walter Obaseki, Surveyor Godwin Osayande and Mr Victor Ndakauba as members.

    This success of these drives to revamp agriculture in Edo State by the Oba of Benin and the state government will be determined by how many people were employed and reduction of food prices in the state.

     

  • Admission: FG bans students without farming interests in agric varsity

    Admission: FG bans students without farming interests in agric varsity

    The Federal Government says it has henceforth banned the admission of students who do not have farming interests into its Universities of Agriculture.

    Chief Audu Ogbeh, the Minister of Agriculture and Rural Development, said this at a stakeholders meeting with registrars and pro-Chancellors of the universities in Abuja on Tuesday.

    He said the decision was to reposition the institutions with a view to involving youths in agriculture, training them to proffer solutions to the multi-faceted problems in the sector.

    The minister, who expressed regrets that non-agriculture-based courses like engineering was being thought in the schools, directed that only agriculture-related disciplines be thought.

    Ogbeh said the Federal Government’s decision to relocate its three Universities of Agriculture from the Federal Ministry of Education to Agriculture, was to refocus the schools as globally acclaimed citadels to move the agriculture sector forward.

    He assured the universities that the government would actively support them by providing funds and grants to assist in research to move the agriculture sector forward.

    “The domiciliation of the universities in this ministry is a commendable effort by the Federal Government based on sound reasoning and logic.

    “Your return will effectively help us to reposition the three universities of agriculture as centres of excellence for the rapid development of the agriculture sector.

    “There is no place where the competence and capacity to drive agriculture resides outside the Universities of Agriculture. We need to achieve a hunger-free Nigeria.

    “Henceforth, students who are not interested in becoming farmers should be made to seek admission elsewhere.

    “We are determined to offer you the necessary support for your transformation, for research for a healthier realm of discovery and self-actualization,’’ the minister said.

    Mr Mohammed Munguno, the Chairman, House Committee on Agricultural Production and Services, advocated a bill to establish the National Universities Agricultural Commission to regulate operations of the Universities of Agriculture.

    He said that the National Assembly would amend their rules to make sure that the universities were adequately domiciled in the ministry for effective monitoring by the assembly.

    “There is the need either through an executive bill or bill to be sponsored by the House and Senate Committees on Agriculture for the establishment of the National Universities of Agricultural Commission.

    “The commission will be charged with the responsibility of regulating the universities of agriculture to effectively perform their statutory roles in tandem with the laws establishing them,’’ Munguno said.

    Prof. Anya O. Anya, the Pro-Chancellor of the Micheal Okpara University of Agriculture, Umudike, Abia, applauded the Federal Government for the relocation.

    Anya, who raised concern over disconnect with the science and practice of agriculture in the country, expressed hope that the domiciliation of the universities in the ministry would reposition the sector.

  • Lagosians trained on agriculture

    Lagosians trained on agriculture

    Another batch of 150 Lagosians yesterday benefitted from the ongoing agricultural empowerment training organised by the Lagos State Government. The training was in conjunction with National Images Agricultural Empowerment Training Scheme at Agege Local Government’s Secretariat.
    The project, according to its Director Mr. Oluwaseyi Bamigbade, was to engage youths and Lagosians to embrace agriculture, saying it’s the only way of bailing the country out of recession.
    The participants were trained on cat-fish production, cassava, wheat and rice processing as well as marketing techniques and soilless vegetable production. They were also exposed to construction of mobile vegetable field box and its operations.
    The participants were made to know the best way to form cooperative societies that would make them have access to credit facilities from reputable and specialised financial institutions.
    Certificates were also given to those who attended the training.
    Bamigbade said the training would be replicated in all the remaining local governments and local council development areas (LCDAs).
    He said the training will resume on February 16 at Amuwo-Odofin Local Government.

  • Adamawa, Borno, Gombe, Bauch, Kwara unfold plans to turn around economy through agriculture

    Some state governments across the country have highlighted some measures aimed at improving agricultural production in 2017, following the current economic recession, the News Agency of Nigeria (NAN) reports.

    Some of the state governments have concluded plans to turn to agriculture through the initiation of diverse policies to boost their economy and create job opportunities.

    Some respondents, government officials and other stakeholders, made this known in separate interviews with NAN in Bauchi, Maiduguri, Gombe, Yola and Kwara among others.

    They said the move was necessitated by the bitter experience of 2016, when the cost of staple food items rose astronomically beyond the reach of ordinary Nigerians.

    Most of the state governments in the country have also keyed into Federal Government’s Agricultural Programmes, especially the Anchor Borrowers Scheme.

    Gov. Mohammed Abubakar of Bauchi State said government had concluded arrangements to purchase grains to cushion the effects of price fluctuations on farmers’ income and also store for future sales to people at subsidised rates.

    Abubakar, who stated this while presenting the 2017 budget to the State Assembly, added that there are plans to establish farm training centres and demonstration farms in the state.

    He also said that part of the agricultural programmes of the state for the 2017 was the empowerment of youth in irrigation agriculture at Wata dam irrigation project in Bauchi South, Galala dam irrigation project in Bauchi Central and Adalda irrigation scheme in Bauchi North.

    Abubakar further said that the state government had keyed into the Federal Governments Anchor Borrowers Programme (ABP).

    The Director of Agricultural Services, Bauchi State Ministry of Agriculture, Alhaji Suleiman Ningi, told NAN that the state government would invest over N150 million to support 30,000 farmers under the ABP.

    ‘’The Bauchi State government would pay the sum of N150 million to commercial banks, so as to ease bank charges and further empower youths and the farmers.

    ‘’Farmers are to cultivate rice and wheat during the dry season, while for the rainy season, farmers are expected to cultivate rice and maize,’’ he said.

    The Borno State government said it earmarked about N7.72 billion to enhance various agricultural programmes in the post-insurgency era.

    Goernor Kashim Shettima said at the 2017 budget presentation that the amount would be used to revolutionised farming as well as provide enabling environment for food production, maintenance of plantation sites and introduction of new crop varieties.

    ‘’Government will provide adequate farm machinery and other inputs to boost agricultural activities, while all Counterpart funds for NPFS, IFAD and Fadama III programmes shall be paid to access more fund.

    ‘’We have instituted several agricultural policies and activities in the State in order to encourage farming activities,’’ he said.

    According to him, about 1,000,000 seedlings of cashew, 500 seedlings of Date Palm and 7500 seedlings of improved variety of citrus, as well as 21,000 mango seedlings have been raised.

    He said this was in addition to the cultivation of 35 hectares of ginger crop at Kidang, Biu Zone as a pilot farm

    and the establishment of 200 hectares of plantation each at Tamsu, Kawu, Mainta Kururi, Mainok and Auno towns.

    ‘’Furthermore, assorted seeds of arable crops were procured and distributed to farmers at no cost, while NPK fertiliser was sold at highly subsidised rate to farmers in the Southern part of the state.

     

  • Enhancing productivity in agriculture

    SIR: One of the greatest obstacles standing in the way of farmers and agricultural investors in Nigeria is poor access to loans and other credit facilities. This is often due to their evaluation by commercial banks as a less creditworthy group, coupled with their notion of farming as a high-risk venture. Hence, there is need for government to evolve ways of removing constraints posed to growth in agriculture, especially for smallholder farmers who find credit facilities inaccessible. While the existing individual single digit loan interest offered by the government is commendable, it is however difficult for individual farmers to benefit from it. Therefore, to enable rural farmers have easy access to credit facilities and foster rural agricultural productivity, due consideration should be given to a wholesale packaging of rural farmers.

    Lack of storage facilities, such as warehouses, cold storage and paved roads as well as reliable energy, have also continued to contribute to post-harvest losses among farmers particularly in rural communities. Nigeria produces more than enough food to feed its citizens, unfortunately, not all the food that we produce get to our table. Therefore, curbing post-harvest losses is a critical factor for achieving food security. The challenge is that a large percentage of the food Nigerians consume is produced by rural smallholder farmers who do not have the capacity to acquire or access storage facilities to store their harvest.

    Existing government institutions such as Nigerian Stored Products Research Institute and the Raw Material Research Development Council (RMRDC) should synergize their efforts in a bid to reducing post-harvest losses and assisting smallholder farmers to achieve on-farm processing.

    Remarkably, the private sector and international organizations have critical roles to play also as government cannot shoulder the responsibility all alone. They can specialise in innovative ways of training smallholder farmers to enhance productivity and efficiency and ultimately ensuring food security and accelerating economic development. In doing so, they often align their developmental and intervention schemes with existing government policies on agriculture.

    For food to be available and affordable in the country, government needs to unleash a holistic multi-stakeholder approach to the agriculture value chain and food supply chain development. By so doing, many people will be engaged, either working directly or providing enabling and supportive services for the farms through aggregation of produce, processing, packaging, transportation, marketing, wholesale, retail, catering services, among others.

     

    • Hakeem Ogunniyi,

    Lagos.

  • Senator seeks partnership with Finland in agriculture, technology

    •Finland marks 99th Independence

    How to boost bilateral trade and relationship between Finland and Nigeria was the topic of discussion at an event marking the Finland’s 99th Independence anniversary. The low-key function, organised by members of Nigerian-Finnish Association, was held at the Radisson Blu Anchorage Hotel on Victoria Island, Lagos.

    Vice-Chairman of the Senate Committee on Federal Character and Intergovernmental Affair, Senator Babajide Omoworare wanted agriculture and technology transfer to be the focus of partnership between both countries.

    This, he said, would create value chain that would be of benefit to both counties.

    The lawmaker urged Finland to tap into the nation’s abundant human resources and use its advanced technology to create a market for Nigeria’s agricultural products.

    He said: “Agriculture and technology transfer are two key areas the two countries can build cooperation. These are the key sectors that would create value chain for both countries. We have abundant human resources in both sectors; this must be explored for our mutual benefit.”

    The Republic of Finland Ambassador to Nigeria, Mrs Pirjo Suomela-Chowdhury, said the event was a demonstration of commitment of Nigerian businessmen to the improvement in trade between both countries, noting that business was at the heart of Finland’s partnership with Nigeria.

    Finland, she said, was the first country to identify with Nigeria after its independence from Britain in 1960, but said both countries needed to explore bilateral relationship for their mutual benefit.

    Mrs Suomela-Chowdhury said Nigeria-Finnish relations span several sectors of the economy, saying she was confident there would be more opportunities than the challenges in the improved cooperation between both countries. The envoy said the establishment of the Nigerian-Finish Association in 2002 led to improved partnership between both countries.

    She said: “Business is at the heart of partnership between Finland and Nigeria. There is much more opportunities and potential the both countries can explore for mutual benefit. I am confident the opportunities of our cooperation will far outweigh the challenges. Nigeria is too important for the Finnish companies to ignore in terms of investment. That is why we have seen many Finnish companies showing interest for the Nigerian market.”

    The diplomat said the Finland embassy remained committed to improving the trade relations between both countries, pledging continued partnership with the association with the aim to facilitate more business relationships among Nigerian and Finnish companies.

    She congratulated former Governor of Ogun State, Otunba Gbenga Daniel for his election as president of Nigerian-Finnish Association.

    Daniel, in his keynote speech, said the business cooperation between Nigeria and Finland had grown in geometric proportion since the association was founded. He called on Finland to increase its education assistance to Nigeria, saying scholarship would boost trade agreement between both countries.

    Honorary Consul-General to Nigerian-Finnish Association, Dr Kola Akinroye, said more Nigerians had benefitted from the trade deal between both countries, noting that there has been increased export of Nigerian products to Finland.

    The anniversary featured art exhibition, which featured the photography and paintings of The Nation’s reporter and cartoonist, Evelyn Osagie and Muyiwa Adetula.

    The works were selected by Finland Embassy and exhibited at the country’s special day.

  • ‘How to get more certified agriculture products exported to EU’

    Executive Secretary/CEO, Institute of Export Operation and Management (IEOM), Mr. Ofonasaha Udofia,  has said improving food safety  standards would  ease the flow of agricultural products to Europe.

    Udofia  said the European Union( EU) has set stringent certification standards, but producers of Nigerian agricultural products should  be trained to  meet them.

    According to him, as Nigerian producers are successfully meeting the EU’s import standards, the import of Nigerian agricultural produce will be increasing.

    He explained that such produce will be well received by Europe’s large supermarkets as they would meet the international certification on good agricultural practices, Global GAP, while having an advantage in terms of quality.

    He said Nigerian  produce  have  big markets in the EU, including cocoa, cashew, palm oil and its derivatives, nutmeg and other agricultural commodities.

    According to him, Nigeria agriculture exports to the EU lag behind those of fellow African countries such as Kenya and Ghana because they   provided products with higher sanitary and phyto sanitary (SPS) standards and other international requirements.

  • Engaging youths in agriculture

    Engaging youths in agriculture

    Agriculture is gaining prominence among the youth and helping to push the development agenda. It is also addressing a growing concern that youths are disenchanted with the enterprise. DANIEL ESSIET reports.

    Young farmers, such as the Chief Executive, Natural Nutrient Limited, Sola Adeniyi, see farming in three dimensions: as a mission, a way of life and an important foundation in ensuring a society’s food security.

    He belongs to a community of educated, empowered and passionate young farmers engaged in profitable farming that nurtures a prosperous, resilient, healthy and happy Nigeria. Although he  holds a degree in Business Administration, he was drawn to farming and had dreamt of managing a farm of his own one day.

    As a young entrepreneur, Adeniyi has developed his farm business located in Ogun State, using a diversified farming system. Natural Nutrient Limited is a full value chain agri-business enterprise.

    His farm is a learning centre, where young people can come for several days, see and learn about planting herbal and food plants and vegetables as well as permaculture. He is a proud advocate of integrated and diversified farming system.

    He has an ongoing project at Lala town, Ogun State, where young people are shown how to grow high-value crops, keep livestocks and how to market produce to markets. Adeniyi stressed that youth could be attracted to agriculture if they saw meaningful income opportunities as well as have a sense of pride in farming.

    He has  a truly innovative and enterprising business – and a fearless approach to new technology,  and opened the farm gates to show his fellow farmers the way forward. The farm is a prime example of how youths can give vigour to a farm business. He relies on advice, works with  mentors and has an impressive grip on every aspect of his business.

    He looks into the accounts on a daily, monthly and yearly basis and works from a business plan. With greater confidence, he is continuing to drive forward. His work ethic,  use of technology and natural assets are just a few reasons Adeniyi is a great farmer. He hardly rests, running a mix of thriving and growing diversifications at different farms as well as remaining hands-on with his arable operation.

    He believed greater involvement of the youth in agricultural trainings and ventures can highten their social consciousness on the woes of farmers and on how to address these challenges.

    He said young farmers needed to earn at least subsistence wages from farming, adding that they lack experience, training, technical knowledge and skills to make farming more productive. They are  agricultural technology, farm management, agri-enterprise business development and marketing.  If skills trainings are provided, he said, a lot of youths will discover that  farming would make them rich and secure. Without these needed support, he said, young farmers feel that they cannot compete with big commercial farmers.

    He urged the government to provide them with basic resources especially land, capital and equipment to make farming less tedious.

    A lot of youths, according to him, have been under-tapped and neglected by their communities, governments, and international organisations, and thus are unable to make full use of their energy and potential in the agriculture sector.

    He is not alone thinking this way. He has found an ally  in an industrialist, Mr. Paul Okpue ,who  has presented  a national master plan to  train  youths to cultivate tomato  nationwide to stimulate economic growth and boost employment. He is encouraging young farmers to focus and invest more on high yielding crops to achieve two-three cropping circles in a year.

    One of such crops is tomato that takes about 75 days to mature after transplanting. The harvesting goes on for about six to eight weeks.

    He is seen as leader in the tomato farming revolution in Delta State.  Okpue has  an  expansive tomato plantation off Ibusa Road in Delta State. It  was used to facilitate the pilot project to tomatoes farmers in the state. He told The Nation that he was trying to establish a national network of young tomato growers.

    He said his target is  108,000 youths nationwide, translating to about 3000 per state.

    He said youths would be taught how to grow tomatoes, using irrigation and  spraying the crops regularly to keep pests at bay. When using irrigation, the young farmers will be introduced to good agronomic practices, including feeding them with phosphorous, nitrogen, calcium, magnesium and sulphur fertilisers and good post-harvest handling measures.

    According to him, farming offers the young generation a chance to make a difference by growing enough food to feed the nation.

    Giving youths  the chance to fulfil their dreams in a sound, pragmatic business model that is commercially robust, is clearly at the front of Okpue’s mind.

    His blue print is to enable young people to discover more about agriculture as a profession and aims to encourage more people to perceive farming as a career after school.

    He has a lot of corporate backing to support his cause.  The Agricultural and Rural Management Training Institute(ARMTI),Ilorin,Kwara State is one of them.

    In support of the pursuit, ARMTI drew   agriculture students, faculty, public officials, non-government organisations (NGO) and small farmers to listen to his  blue print  and  to discuss the significance of young people in  farming and small-scale agriculture in alleviating poverty and achieving inclusive growth specifically in the rural areas. It was during the institute’s annual lecture in Ilorin.

    Acting Executive Director,Dr. Olufemi Oladunni said it was time young Nigerians  were  made to acquire  agricultural skills through training. He  believed   young farmers  could be   developed into young leaders and farmer entrepreneurs through exposure to good farming practices such as applying multipurpose farming and  raising livestock. To harness the potential of the youth for agriculture, Oladunni  said the institute  has a agro-based enterprises training  with provisions for young farmers.

    He said 75 youths were in the institute to get training on farming techniques.  Some of the institute’s  projects were mainly concentrated, where levels of open unemployment among rural youths are particularly high. However, considerably more attention is now being given to youth training, with a particular focus on promoting employment through both farm and non farm enterprise development.  The institute is  becoming increasingly interested in providing support for targeted training for young farmers.

    According to him, agriculture is expected to drive the nation’s economic growth.

  • ‘Agriculture way out of hardship’

    ‘Agriculture way out of hardship’

    Central Bank of Nigeria (CBN) Governor Godwin Emefiele has said agriculture is the way out of recession.

    He urged Nigerians not to despair or contemplate leaving the country.

    Emefiele declared that “there is no more place to run to”.

     The CBN governor advised Nigerians to remain in the country and embrace agriculture, as there were no greener pasture elsewhere.

    He spoke with reporters in Abeokuta, Ogun State capital, after inspecting some farm settlements in Eriwe, Kotopo and Odeda.

    He said the N250 billion agricultural credit facility meant for farmers had not been fully disbursed.

    The governor added that of the N220 billion for Micro, Small and Medium Enterprises (MSMEs), “less than N80 billion” was utilised.

    According to him, the CBN will burst such idle funds with the agricultural credit scheme and make it available to serious states to enable them boost productivity.

    He said the measure was part of President Muhammadu Buhari’s determination to boost agriculture, particularly in rice, cassava, maize, cocoa and palm oil, for consumption and export.

    On the inspection team are Minister for Agriculture, Chief Audu Ogbe, Governor Ibikunle Amosun, his Kebbi State counterpart, Atiku Bagudu, who chairs the Presidential Task Force on Agriculture.

    Also speaking with reporters,  Chief Ogbe reiterated his call on Nigerians to return to agriculture as the roadmap out of the nation’s near mono-economy.

  • Agriculture financing and economy diversification

    THE Nigerian banking system plays the important role of promoting economic growth and development through the process of financial intermediation. One of the more recognised ways of creating jobs, reducing poverty and achieving economic growth and development is by the timely extension of credit to the to the agriculture sector through the activities of Deposit Money Banks (DMBs). The agriculture sector contributed 22.5 per cent to Nigeria’s overall gross domestic product (GDP) in the second quarter of 2016 and real agricultural GDP growth for the period was 4.53 per cent (year on year), per data from the National Bureau of Statistics (NBS).

    This is higher than the headline GDP figure (-2.07 per cent) suggesting that recent interventions in the sector by the Central Bank of Nigeria (CBN) and DMBs are paying off. For example, DMB’s credit to the agricultural sector as a percentage of total loans has more than tripled to about 4.9 per cent today from below one per cent in 2009, based on data from the CBN. In recent years, the sum of over N1.7 trillion of seed funding, has been set aside under five CBN intervention programmes to stimulate development of various agricultural value chain segments from primary production to market access with multiplier effects that cannot be overemphasized.

    These programmes are meant to support small, medium and commercial/large scale agriculture. Some of these schemes include the Agricultural Credit Guarantee Scheme (N69 billion); Commercial Agricultural Credit Guarantee Scheme (N200 billion); the Nigerian Incentive-Based Risk Sharing System for Agricultural Lending (N200 billion); and Small and Medium Enterprises Credit Guarantee Scheme (N200 billion). In addition to funds created by the CBN, the DMBs have also set up agriculture desks in their respective organisations signaling a renewed commitment to support and sustain the growth of the sector. Some of the successful CBN and DMB agricultural financing intervention schemes include the he Commercial Agriculture Credit Scheme (CACS) under which tremendous progress has been recorded.

    For example, from inception in 2009 a sum of about N266.025 billion has been released to the economy through 20 participating banks funding about 347 projects. The analysis of the number of projects financed under CACS by value chain showed that out of the 347 CACSsponsored projects; production accounted for 57.06 per cent while processing accounted for 33.14 per cent distantly followed by marketing, storage and input supplies. A total number of 29,046 jobs were created which include 11,717 direct and 17,329 indirect jobs during the period under review while five out of the 310 private projects are owned and managed by women. Some banks have also been at the forefront of supporting agriculture financing and offering micro-loans to farmers.

    Union Bank of Nigeria (UBN) and United Bank for Africa (UBA) are examples of such lenders. Union Bank has over a sustained period of time, provided revolving micro credit to rural farmers as a means of driving investment in the agriculture sector while UBA in 2009, floated a private sector funding scheme of N50 billion to support agriculture and agro-processing industries in Nigeria. The projects are targeted at all segments of the agriculture chain, from small and medium scale farmers to large, industrial farming projects in poultry, fishery, crop cultivation, production, plantation, farm machinery, and hire services. Union Bank was recently named the “Best participating bank in Nigeria” – CBN Agricultural Credit Guarantee Scheme Fund (ACGSF) and “Best Commercial Agriculture Bank” – Nigeria Agriculture awards. The Greener Pastures Initiative is Union Bank’s flag ship agricultural initiative that provides support to small-holder farmers and cooperative’s, and focuses on harnessing the relationships built through the Bank’s long -standing Agribusiness department.

    UBA on its part was also honoured recently with an award as Nigeria’s biggest lender to agriculture by the Lagos Chamber of Commerce and Industry (LCCI). UBA’s Agriculture fund is part of the bank’s Food for the Nation program, and is aimed at improving food security, poverty alleviation, and providing a timely boost to Agriculture. UBA has sustained its commitment to the Agriculture sector by committing an average of seven per cent of its loan book to agriculture financing and was one of the two banks selected in 2010 to administer the N200 billion Agriculture Fund set up by the CBN because of the bank’s commitment to agricultural financing as well as its spread across the country.

    The UBA facility will be available to farmers at below single-digit interest rates through three credit products namely, the Agriculture Credit Support Scheme, Agriculture Credit Guarantee Scheme, and Food Security Support. Beneficiaries who must be practicing farmers and belong to farmer’s associations or co-operatives throughout the entire agriculture value chain can also avail themselves of facilities provided by the scheme through any of the over 750 business offices of UBA. Projects to be financed include rice, wheat, maize, millet, sorghum, cassava, yam, poultry – chicken and eggs, animal husbandry –cattle – as well as fish farming. Nigeria’s agricultural revolution has been reinvigorated and deposit money banks are well positioned to provide the financial support required to make Nigeria not just self-sufficient but to become a net exporter of processed food items. •This article, written on behalf of Bankers Committee, is one of the series focused on raising awareness around Nigerian banks’ commitments to agriculture financing and diversification of the economy.