Agriculture
UBA Tops Agriculture Promotion
The United Bank for Africa has emerged tops in loans disbursement to commercial agriculture and allied products and services companies across the country under the Commercial Agriculture Credit Scheme (CACS) modified by the CBN.
UBA recorded the highest value followed by First Bank, Zenith and Union Bank. It could be recalled that sixteen commercial banks were selected by the apex bank to facilitate the release of the funds under the scheme since inception in 2009 to qualified in institutions and state governments.
The initiative was conceived by the Federal government to boost agriculture production in the country through, interventionist funds from the banking sector.
According to a report by the CBN, the sixteen banks have at various times disbursed to both states governments and commercial institutions satisfactorily since the inception of the scheme in the past three years.
Analysis of funds disbursed so far indicate that UBA emerged the most active bank in the project having disbursed about N38.4 billion to 34 projects of the about N151 billion so far disbursed by the banks under the scheme.
The First Bank Plc came second with a total disbursement of N16.23 billion to 48 projects while Zenith Bank, Union Bank and Unity Bank Plc took third forth and fifth positions having disbursed N18.54 billion, N14.86 billion and N12.30 billion respectively.
The other active banks include, Diamond Bank Plc, Sterling Bank Plc, Wema Bank Plc, Access Bank Plc, Unity Bank Plc among others.
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FG, Ogun Distribute Inputs To 2,400 Farmers
Federal Government and the Ogun State Government, on Wednesday, distributed farm inputs to farmers as part of effort to address food security challenge.
The State Director, Federal Ministry of Agriculture and Food Security, Dr. Toyin Ayo-Ajayi, during the flag-off ceremony of Inputs Redemption Under The National Agricultural Growth Scheme-Agro Pocket (NAGS-AP), in Ogun State, disclosed that beneficiaries of the gesture were primarily rice, maize and cassava farmers across the State.
Ayo-Ajayi commended the Ogun State Government for partnering with the government at the centre for the effort in supporting farmers with inputs that would bring about yieldings for local consumption and likely exportation.
She noted that government is supporting rice, cassava and maize farmers with inputs worth N212,000; N189,000 and N186,000 respectively.
The Permanent Secretary in the State Ministry of Agriculture, Mrs Kehinde Jokotoye, who represented the Commissioner in the Ministry, Bolu Owotomo, stated that traditional farmers are critical in food production, hence the need to encourage and support them with inputs that would bring about desired results during harvesting.
Owotomo said: “Let us make good use of this opportunity, so that the success of this phase will make farmers benefit more from the state and federal governments of Nigeria.”
Earlier, State Coordinator, Federal Ministry of Agriculture and Food Security, Dr. Oluwatoyin Ayo-Ajayi, appreciated the present administration for partnering with the federal government for the initiative, adding that the programme is designed to support farmers at the grassroots level in cassava, rice and maize with inputs such as, seeds, pesticides, herbicides and fertilizers, to boost their production and enhance their livelihood.
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