Former President, Chief Olusegun Obasanjo on Thursday, urged Nigerian banks to increase funding within the agricultural sector for higher productivity and agro produce sufficiency.
Obasanjo said this in Abeokuta during the 2019 Annual Conference of the Association of Chief Audit Executives of Banks in Nigeria (ACAEBIN).
The theme of the three-day convention is “Banking in the Digital Age: Opportunities And Challenges”.
Obasanjo, who stressed that Nigeria’s population figure was rising at a very high rate never imagined than its agricultural sector, mentioned that such scenario might spell doom for the nation if not reversed.
“Ordinarily, a nation’s population is meant to be an asset for the country, but when it isn’t fastidiously managed it might result to a very serious issue and end in a disaster,’’, he stated.
He added that improved funding of the agricultural sector would additionally assist to offer employment, notably, the youths.
“One factor that I know will assist us is to offer employment and possibly half of what’s going to assist us is agric enterprise.
“You in the banking sector should be part of positioning the agric sector.
“I’m speaking of the entire value chain starting from land preparation and if we get it properly done, we can get the difficulty of employment for our teeming youths behind us.
“The standards of living of our populace will be enhanced and improvement of their prosperity,’’ he mentioned.
The elder statesman stressed that a good political system and an efficient system of governance should be in place for such a turnaround.(NAN)