Agriculture
BoA, SunTrust Sign MoU To Reach Farmers, Customers
The Bank of Agriculture (BoA) has signed a Memorandum of Understanding (MoU) with SunTrust Bank (STB) Nigeria Limited to reach no fewer than five million farmers across the country by 2020.
The Minister of Agriculture and Rural Development, Chief Audu Ogbeh, while signing the MoU in Abuja on Monday, regretted that over the last 30 years, commercial banks had been unwilling to finance agriculture.
Ogbeh said the Federal Government had restructured BoA in such a way that agricultural lending would be easily repaid.
The minister said that the Information Technology (IT) services to be rendered by SunTrust Bank, would help the BoA to reach its customers.
“We have been trying to find funds to set up our IT services but the funds are not available.
“We are still pleading with the necessary authorities to reduce agriculture interest rates.
“There is no way any country can survive with 18 per cent interest rate and people need to feed well.
“I think BoA and our farmers will enjoy this partnership,’’ Ogbeh said.
The Managing Director of BoA, Mr Kabir Mohammed, said the partnership would enable the bank to reach and render quality services to its numerous farmers and customers across various communities.
According to him, with about 140 branches we have currently all over the country, there is need for us to partner with a commercial bank that can provide services that will reach our customers.
“The perception people have is that farmers are not intelligent but we know that our customer knows what a quality service is.
“In local governments where we have branches, some of our customers travel like 50 kilometres to reach our branches but with this partnership, it will be easier and services will be brought to their door steps.
“This is the era of electronic business and we are limited by regulation, we cannot issue cheque books on our own, we cannot issue ATM cards directly, we need to go through a commercial bank.
“What we have seen today is one of those partnerships that the bank intends to undertake with other banks.
“The SunTrust bank is new and small but with robust IT infrastructure.
“We are going to leverage on that to ensure that our customers that are financially excluded, can benefit from this.
“Farmers will now be able to use ATM cards to access funds and our corporate customers will now have access to cheque books,’’ Mohammed said.
The Chief Executive Officer of SunTrust Bank, Mr Muhammad Jibrin, said the bank would offer Information Technology Services to the BoA to be able to reach their customers in the remote areas.
“We are in the digital age so reaching people is actually by digital means. Our systems are up and running.
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.
The Niger State Government has mapped out 10,000 hectares of farmland in Gbapo Community of Katcha Local Government Area of the State for smallholder farmers to benefit from the state government’s agricultural intervention programme.
Two thousand out of the 10,000 holders of the farmlands have already received inputs.
At a flag-off ceremony in Yinti Village, the facilitator of the programme, Shinkafan Nupe, Malam Idris Usman Makanta, assured the farmers of increased distributions to the mapped-out ten thousand (10,000) farmlands if farmers respond positively.
He explained that the commencement of the two thousand is to measure the positive response of farmers before obtaining full-scale support.
Malam Makanta stated that this initiative aligns with the farmers’ initial commitment through Niger Foods, whose mission is primarily geared towards establishing efficient and profitable agricultural businesses to support the present administration of Governor Mohammed Umaru Bago’s quest to boost agricultural productivity in the state.
He also commended Niger Foods for their steadfastness and resilience in the effective implementation of the input financing scheme.
Makanta reiterated the commitment of the State Governor in making judicious use of the arable land in the state.
Shinkafan Nupe, therefore, urged the farmers to support the Governor by using the inputs wisely so that the dream can be actualised.
The Gombe State Government has empowered a total of 573,429 farmers and entrepreneurs under the 4th phase of the GO-CARES programme.
The programme was officially flagged off by Governor Inuwa Yahaya in another major step towards alleviating poverty and supporting the state’s vulnerable populations.
The Governor, while inaugurating the disbursement in Akko Community of Akko Local Government Area, restated his administration’s commitment to the welfare of vulnerable citizens in the state.
He was represented by the Commissioner for Budget and Economic Planning, Salihu Baba Alkali, who is also the Chairman of the Steering Committee on GO- CARES implementation.
“The 4th phase of GO-CARES will directly and indirectly impact a total of 573,429 citizens across the state. Of these, 152,429 individuals will benefit directly through cash transfers, livelihood grants, agricultural inputs, and operational grants to small businesses”, he stated.
The Governor added that, “421,000 people will be indirect beneficiaries through infrastructural projects such as classroom blocks, healthcare facilities, WASH services, and rural infrastructure projects like culverts and drainages”.
Yahaya, reaffirmed his commitment to ensuring that the state’s most vulnerable citizens are not left behind in the state’s development.
According to him, “Earlier this year, on June 25, 2024, we flagged off the distribution of improved seedlings, fertilizers, and herbicides to less privileged farmers in Malam Sidi, Kwami Local Government Area, signaling the commencement of the 4th phase implementation of GO-CARES under Result Area 2”.
The Governor reiterated that these initiatives have had a significant impact on the livelihoods of beneficiaries and the overall agricultural sector.
He explained that, “Today’s ceremony marked the simultaneous launch of activities under all three GO-CARES Result Areas for the 4th phase. These areas include: State Cash Transfer Grants: 2,500 direct beneficiaries; Labour Intensive Public Works: 2,700 direct beneficiaries; Livelihood Grants: 10,000 direct beneficiaries; and Basic Services: 405,000 indirect beneficiaries”.
