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Three Lagos Farmers Bag CBN’s Agriculture Award

The Development Finance Department of the Central Bank of Nigeria (CBN) has awarded three farmers in Lagos State at the 2021 edition of its “Farmer of the Year ” awards.

The recipients, who are into poultry, fish, snail and pig farming, were recognised under the Agricultural Credit Guarantee Scheme Fund (ACGSF)’s Farmer of the year award, on Tuesday in Lagos, where they got cash prizes of N50,000, N75,000 and N100,000 respectively.

Speaking at the award ceremony, the Lagos State Branch Controller, CBN, Mr Koyor Baribokola, noted that the apex bank rewarded participants who had shown exceptional prospect and dedication to growing Nigeria’s agricultural sector despite numerous challenges.

Represented by Mr Nnaemeka Ukanyiriola, the CBN Branch Controller, explained that 2021 was a difficult year, with businesses trying to recover from the negative effects of the global pandemic.

He said, “It is evident that our commitment in rebuilding our agriculture sector as a nation is crucial not only for our sustenance, but also for economic relevance on a global scale.

“These awards are not only a reflection of our commitment to agricultural development, but also in line with our core values as an organisation.

“As the bank continues to design and implement measures to improve food security by facilitating access to finance for the agricultural sector, we are confident that farmers will continue to grow and scale their businesses over time,” Baribokola added.

Also, he informed that a total of 31, 666 loans, valued at N5.92 billion were guaranteed under the ACGSF in 2021.

On her part, Permanent Secretary, Lagos State Ministry of Agriculture, Mrs Olatokunbo Emokpac, said the state was making great efforts to close the gap between local production and consumption.

Represented by the Assistant Director, Agricultural Business Department, Mr Olushina Shobande, the Permanent Secretary said, “As you know, Lagos is the market and you know, Lagos state is limited by land. So, it is virtually impossible for us to produce everything we eat with over 22 million within the state.

“We are currently at 20 per cent local production of our total consumption; we are striving by implementing our agricultural roadmap within the year 2021 and 2025 to ensure that we push to 40 per cent.”

Speaking on the impacts of the state, Emokpac informed that the State Government has been involved in distributing needed inputs at subsidised rates to farmers and other stakeholders through its empowerment programme annually.

“We even give them grants in the form of inputs every year to ensure that we increase production. We rely heavily on CBN, particularly the development finance to provide the financial support through the single digit rate, which is the cheapest you can get in the country, through their various programmes,” she added.

The post Three Lagos Farmers Bag CBN’s Agriculture Award first appeared on AgroNigeria.

Sourced from Agro Nigeria

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