Nigeria’s Unity Bank Plc said it will provide more funding to not less than 120,000 Nigerian smallholder farmers in 2021 wet seasons farming.
The managing director/CEO of the bank, Tomi Somefun explained this while he delivered the goodwill message at the flag-off of wet season farming and unveiling of the first National Maize Pyramids programs held in Katsina over the weekend.
Unity Bank Plc is a major stakeholder in the rollout of the Central Bank of Nigeria’s Anchor Borrowers Programme (ABP) attended the event where the program was launched by the Maize Association of Nigeria, MAAN.
Patricia Chinwe, the head of the agribusiness department of the Unity Bank Plc represented Somefun, said more funding will be provided for the 2021 wet season farming is in line with the commitment of the Banks towards supporting maize farmers in the country.
She said the collaboration with the MAAN started in 2019 providing funding of about 37,182 smallholder farmers and in 2020, the bank increased the finance to 70, 604 smallholder farmers.
Somefun commented on the maize pyramid that “The maize pyramid will be the first of its kind in Nigeria which will show farmers resilience and the commendable vision of the federal government of Nigeria via its partnerships. All states will replicate this strategy focusing on crops with comparative advantage.
Somefun stated that agriculture has contributed more than 26 percent of Nigeria’s GDP and employing around 50 percent of the country’s working population in the rural areas, the Bank aims to continue to provide strategic investments to the sector in line with the request of the federal government to attain food sufficiency, economic diversification, job creation for the youth and poverty reduction.
She added, “Unity Bank is committed to its collaboration with MAAN, and this commitment will ensure attaining the target of the FGN/CBN to attaining maize production self-sufficiency via the associate.”
The president of MAAN, Abubakar Bello commended Unity Bank for its commitment to farmers through its strategic role to ensure necessary funding is provided to maize farmers.
He said the association is committed to continuing to meet the financial responsibilities and maintain the drive for enhanced output of maize in the 2021 wet season farming.
Unity Bank recently got a related commendation from Rice Farmers Association of Nigeria RIFAN on the strategic role is engaged to provide the required assistance to the association to allow them to make use of the opportunities provided by the CBN’s Anchor Borrower’s program.
RIFAN specially commended Mrs. Somefun for her leadership and doggedness in supporting the rice farmers through the Anchor Borrowers’ Programme, which is playing a critical role in Nigeria’s quest to attain self-sufficiency in rice production.
