The Bank of Industry (BOI) has injected N9.08 billion into agriculture in the Southeastern Nigeria in line with Federal Government’s food programme for the country.
The bank’s Managing Director, Kabiru Mohammed who spoke to journalists in Enugu, said:
- Of the amount so far disbursed to farmers in the region, Abia got N1.4b, Anambra got N3.3b while Ebonyi got N578m. Also, Enugu got N1.7b while Imo got N2b.
- The bank had the mandate of providing agricultural credit and non-agricultural micro-credit with a view to curbing poverty.
- Though the amount so far disbursed fell below the expected target for the region considering the abundant opportunities there, the bank and its stakeholders are making concerted efforts to curb all known challenges to agro-entrepreneurship to widen the space for more participation.
- Most of the credit facilities are directed at women who have suffered from neglect, chronic under-investment and regional protectionism.
- The bank desires to partner with state governments in the zone with a view to exploiting the huge potentials in the region.
- Government concerns like the Ada Palm in Imo, Okomu Oil and the Imo Rubber and National Institute for Oil Palm Research (NIFOR) already have a robust relationship with the Bank of Industry.
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