The Managing Director, Bank of Agriculture (BOA), Prof. Danbala Danju has called for cooperation from the private sector in providing funds for farmers, noting the significant roles they play in the development of the economy.

Speaking at the National Working Committee meeting of All Farmers Association of Nigeria (AFAN) held in Abuja, Prof. Danbala stressed that  BOA cannot solely rely on government for provision of funds to the agricultural sector because the sector needs a huge investment for its sustainability.

He thereby canvassed for the creation of a specialist bank for agriculture which can provide support for primary production, processing and storage, and also provide other important resources to the farmers.
“Agriculture is the most important option we need to embrace because of our increasing population in the faces of dwindling economy. Thus, we need a specialist bank of Agriculture which can provide support for primary production, processing and storage, and also provide other important resources to the farmers,” he added.

Danbala reiterated the need to jettison age-long practices in agri-banking, where practicing farmers cannot be identified from ghost-farmers, creating financing problems which according to him, has cost the bank over 20 billion naira bad debt.

He ascertained that BOA would be partnering with AFAN to disburse funds to farmers, noting that this would be achieved through a comprehensive farmers’ databank to be collated by AFAN at their respective chapters.

He therefore encouraged the farmers to embrace new modern farming practices to afford their agricultural produce the needed edge for global competitiveness in the international market.