Keystone bank Plc, says set aside N60 billion in its balance sheet for agricultural lending in 2020.
Just as the bank says it is willing to lend to any corporate organisation or individuals who is ready to invest in agriculture.
The Divisional head of agric Financing North, Dr. Uchenna Obih, who revealed this on Friday at the Abuja Municipal Area Council (AMAC) one day Economic summit in Abuja, said all that it would require is for the business structure as the bank is ready to fund intensive farming within the municipal.
According to him, it is easy for the bank to partner with the Council in mechanised farming.
A director from the Ministry of Agriculture and Rural Development, Dr. Adeleke Muktab, encouraged the Council on the need for improved quality seeds and that inputs for processing is 50 per cent subsidised, saying the Council will be given whatever amount of seeds it needs from the ministry at subsidized rate.
“There is 90% subsidy on any seeds you want to use. That is if you want to buy seeds of N1000, you only need to pay N100 for it, while there is also 50% subsidy on inputs for processing from the ministry.
“Therefore I will urge that you take advantage of this, because is part of the federal government’s efforts at encouraging mechanised farming in Nigeria,” he said.
AMAC chairman, Abdullahi Adamu Candido, said the Council appreciates all the partnership it can get as the summit was organized to find ways to strengthen the economic base of the Area Council.
He said the summit is centered on the economic potentials of the Council and how to explore the various sectors.
“The essence of this summit is to find ways of strengthening the economic base of the area council. You can’t have a government except you take interest in what is happening in the local government, and the challenge of insecurity can only be solved the problem of poverty, therefore let join hands together to address this problem in AMAC.
“We are putting institutions in place that would outlive us. So as long as you domicile in AMAC, come and work with us to make the Council better,” he said.
He, however assured that the Council will put together a bigger summit to drive it development as AMAC development is anchored on investment.
