The current cries for immediate financial and mechanical intervention from Nigeria’s agricultural sect has received some sort of relief as Access Bank Plc recently wood Nigerians and corporate organisations to leverage the bank’s financial support and solutions to grow their agricultural businesses in the country.
While engaging participants present at the Agro-Food Nigeria exhibition in Lagos, the bank’s Head of Agric Desk, Opeyemi Olutayo,disclosed in his address that the financial institution as an agric-supporting bank had the capacity to fund from the initial stage of input purchase to production, processing, logistics, marketing and consumption for any farmer that successfully meets all the application requirements for the facility.
He said: “Be it a bigger player, large corporate or small holder farmer, we first of all assess what you want to do, and if you are an individual, we assist you to form a cooperative, which gives a small leverage to have access to the facility.
“We are not lowering the conditions attached to the lending, but we make it a bit simpler for you to make sure that you can have access to this fund. Nothing stringent is attached. Once you meet the conditions, we provide the funding but where you cannot, we structure you in such a way that we link you to an off-taker to provide some soft landing for you.”
Being specific, he claimed that the country (Nigeria) is faced with N800 billion funding gap in the agricultural sector, but also backe up his claims with the fact that the government remains persistent as per efforts being made to bridge the gap.
In the other hand, Sebastian Barroso, The Head, German Desk, Access Bank, also spoke about the bilateral or international partnership existing between Nigeria and other countries as he categorically pinpointed the German desk as a bridge between Germany and Nigeria in the provision of consumer-based finance for German customers that want to export for Nigerian counterparts that are in need of access to finance.
“Both of them are looking for the bank that provides then with a more adequate solution.
“We are connected to the Director-General, and we have possibilities to access finance from a different angle.
Barroso also confirmed that the organisation has a network from the German and Nigerian bank which is Access Bank that is presently helping them in the actualisation of their ambition.