Tuesday, February 27Inside Business Africa

ECOBANK Provides Loan Facilities For Nigerian Agricultural Sector

ECOBANK hosted their first Agricultural Business summit in Civic Towers, Victoria Island Lagos, themed “Unlocking Productivity and Investment opportunities across Nigeria’s Agribusiness value chain”.

The Program was featured agribusiness experts including Mr Aliyu Abdulhamneed MD/CEO of NIRSAL, Dr. Emmanuel Itoya Ijewere Vice President, Nigeria Agribusiness Group NABG, Dr Andrew S. Nevine Chief Economist, African farmer Mogaji, CEO, Farm Credit limited, Ayodeji Balogun, Country Manager, AFEX Commodities Exchange Limited, Ade Adefeko, Vice President, Corporate and Government Relations OLAM Nigeria.

The Minister of State for Agriculture, Baba Mustapha stated that the ministry will continue to give support and provide jobs within the Agricultural sector to enable collaboration and diversity in the sector.

The moderator of the panel discussion, Boason Omofaye; reporter and presenter, Channels Television invited the panelists to the stage to discuss maximizing finance for development across the agricultural value chains.

A missing link in Nigerian agriculture is Agri-industrialization, which is caused by lack of finances, and ECOBANK Nigeria promises to be in support of Agricultural development in Nigeria, by giving out loans to as many farmers as possible.⁣

The MD/CEO Ecobank Nigeria, Mr Patrick Akinwuntan  adviced all the farmers present to register their businesses on the official website for inclusion purposes.⁣

He also added “For us at Ecobank, we see the convergence of agriculture and financial inclusion in Nigeria. Hence, we are constantly striving to ensure financial application is available to every Nigerian”

Boason Omofaye, as as  part of his comments noted that there is only one virus in the Nigerian Agricultural Sector and it’s Money, China has Coronavirus Nigeria has Money Virus.

Dr Emmanuel Ijewere Vice President, Nigeria Agribusiness Group stated the biggest challenge he faced was Transportation, moving his cows from the North to the South West was a big loss for him because he lost 7 out of 70 cows because of the bad roads. He also mentioned that he used Nigerian Railway system to transport his tomatoes from the North to the South West region, but lost all because of poor services from the Railway transportation in Nigeria.

The Agribusiness Summit has been put together by Ecobank to help usher in the unique Agricultural platforms within their network.

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