Gov. Okowa Urge Financial Institutions to Finance Agriculture

Governor Ifeanyi Okowa of Delta State

Nigeria would achieve its economic diversification drive, if financial institutions in the country are ready to finance the agriculture sector.

This was the opinion of the Delta State Governor, Ifeanyi Okowa while addressing participant at the inauguration of the Production and Processing Support Programme (PPSP) under the job and wealth creation scheme of the government held in Asaba, the State Capital.

Okowa called on Nigerian banks to come up with `robust credit policies’ for agriculture, to address credit turn around, recruitment and training of specialist bankers, who would understand the dynamics of agriculture and agribusiness.

He said that despite the fact that agriculture plays crucial role in driving economic development, inadequate funding had continued to be a recurring decimal.

“From available statistics, the bulk of our small-scale farmers regrettably do not have access to credit finance and are, therefore, unable to invest in basic farming inputs such as implements, seedlings and fertilisers.

“As a result, farm yields have remained very low, leading to widespread poverty and stunted economic growth,’’ Okowa said.

To restore agriculture to its pride of place in the Nigerian economy, the governor submitted that the issue of agriculture financing must be addressed.

He expressed confidence that the State would transform its agriculture sector and stimulate development in all sectors through the PPSP.

Okowa explained that PPSP was conceived to help the State overcome the problem of resource scarcity, poor technology and infrastructure deficits.

In his remark, PPSP Job Creation Officer, Prof. Eric Eboh, said that programme was aimed at increasing productivity and income, create jobs and wealth and ensure prosperity for the people.

Part of the ceremony was the presentation of cheques by the governor, ranging from N2 million to N10 million to different cooperative groups as well as the presentation of tractors and other farm implements to various farmer-based cooperative societies present at the inauguration.