Prof Danbala Danju Md/CEO Bank of Agriculture |
Agent
and ATM networks, mobile phone banking, and the debit cards can all be used to
reduce the costs of lending to rural and agricultural clients, while making it
easier for rural farmers to access financial services.
The
Managing Director and Chief Executive Officer, Bank of Agriculture, Danbala
Danja made this assertion in his presentation on the topic: Optimizing the
financial support for Agriculture and Agro-business in Nigeria Availability,
Accessibility and Limitations.
Danbala
Danja who spoke at the sensitization programme on ECOWAS Trade Liberalization
scheme held at Royal Choice Inn Makurdi, Benue State,
further argued that the Growth Enhancement Scheme (GES) where farmers were
provided inputs like seedlings, fertilizers and chemicals was a bold step in
the right direction.
He lamented on the
fall in budgetary allocations to the agricultural sector from 1.7% in 2013 to
1.44% in 2014 and to 0.9% in 2015 which are against 10% of the total annual
budget of a member country in which Nigeria is a signatory at the Maputo
declaration which according to him is unacceptable.
The MD/CEO Bank of
Agriculture observed that the agricultural policies of ECOWAS countries are
more competitive than complimentary stressing those countries of the community export
the same primary produce including livestock on hoofs, meat, fish nuts and
cereals.
There are specific
areas where Nigeria and other ECOWAS countries stand to benefit by the
harmonization of their agricultural policies, he said. One such area according
to Bala Danja is in the development of the large river valleys such as those of
Nigeria and the Chad Basin, adding that the harmonization of processing and
distribution of livestock products would also help reduce the price disparities
prevailing between the countries of the sub-region.
Speaking on the
Nomads who control the bulk of the cattle in West Africa, moving freely across
National Boundaries in search of food and water, he suggested a possible
solution would be the establishment of common grazing reserves which cut across
national frontiers at a cost to be borne by ECOWAS.
Danbala Danja who was
represented by the Manager, Bank of Agricultural Makurdi Benue State Mr. G. T.
Asema, noted that 70% of the country’s poor lives in rural areas and directly
or indirectly depend on agriculture as their main source of income and
employment.
Despite their
socioeconomic importance, smallholders tend to have little or no access to
formal credit, which limits their capacity to invest in the technologies and
inputs they need to increase their yields and incomes and reduce hunger and
poverty, both their own and that of others, he stated.
He posited that funds
should be deployed in consonance with appropriate commodity value chains so
that optimum satisfaction can be derived by creditors and agro entrepreneurs
alike.
Welcoming
participants Amb. Bulus Z. Lolo Permanent Secretary Foreign Affairs stated that
the workshop was aimed at assessing Nigeria’s participation and involvement in
the ECOWAS trade liberalization scheme, targeted at appraising the challenges
being encountered by the Nigeria Business Community in the course of the
implantation scheme.
The scheme is thereby
programmed to promoting intra-community goods by ensuring removal of import
duties and prohibitions/restrictions on goods originating or produced in any of
the member states.
Ambassador Bulus
lolo, Permanent Secretary Ministry Of Foreign Affairs, who spoke at Royal
Choice Inn, Makurdi noted that challenges like bureaucratic bottlenecks and
relative low awareness among the Nigerian Business Community in the bountiful
opportunities inherent in the scheme and how to tap into it are further
worsened by the negative consequences associated with smuggling of goods made outside
the West African sub-region.
He challenged the
region’s young entrepreneurs, whose enterprises are being nurtured to become
the backbone of Nigeria’s industrial and private sector growth and need to be
fully abreast with the opportunities available in the scheme, among other
ECOWAS programmes.
The Under Secretary
African Affairs Division, Ministry of Foreign Affairs Amb. Godwin Agamah, had
on the occasion enjoined participants to assist in ensuring that member states
comply with the provisions of ETLS especially on the issue of Rules of
Origin.
He pointed out that
the sub-regional body is a huge market that is vital to our national and
sub-regional development.
Amb. Agamah urged
members of the region to desist from allowing companies to hide under ETLS to
sell products that are manufactures in third countries, but rather fast-track
the completion of sub-regional infrastructure especially in the transportation
sector so as to boost the scheme.
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