Monday, September 8, 2025
23.9 C
Lagos

Ecobank Nigeria Promotes Entrepreneurship, Extends Agric Loan to 70,000 Farmers

Ecobank Nigeria has restated its commitment to the Agricultural sector and is supporting over 70,000 farmers with special loans to increase their capacity and yields during this planting season.

This is one of the bank’s initiatives to promote entrepreneurship in the sector and is in support of the Central Bank of Nigeria’s Anchor Borrowers programmes for the 2020 wet season with the Maize Growers, Processors and Marketers Association of Nigeria (MAGPAMAN).

Head, Agribusiness, Ecobank Nigeria, Mojisola Oguntoyinbo, announced this in Lagos while responding to media enquiries on the participation of the bank in the CBN scheme. According to her, the initiative spreads across the thirty-six states of the Federation and is one of the several concerted efforts on the part of the bank to support the government to create an ecosystem that gives small holder farmers access to funding and the required support to increase food production in the country. She also noted that the scheme is designed to connect small holder farmers with processors and off takers within the agriculture value chain.

“We are creating opportunities in the Agric sector that will help many small holder farmers expand their business and become worthy employers of labour by adopting modern farming techniques for the betterment of our economy. We are in strategic partnership with NIRSAL and some other developmental institutions to achieve our purpose.  We are also partnering the Central Bank of Nigeria (CBN) in all its intervention schemes and programmes aimed at developing the sector. Our relationships are generating positive activities across the entire Agric value chain.”

This comes on the heels of the bank’s widely acclaimed Agri-business summit with key stakeholders, held earlier in the year.

Ecobank has been actively leveraging entrepreneurship as a strategy to tackle poverty and growing unemployment, through the creation of relevant platforms.

One of such platforms is the Ecobank Xpress Point, the bank’s Agency Banking proposition which enables Agents carry out financial transactions on behalf of Ecobank and earn commission on transactions processed.

Thousands of Nigerians have taken advantage of this opportunity to become Xpress Point agents and have in turn, employed several others, thereby improving financial inclusion and creating employment opportunities. Xpress Points are in various neighbourhoods across the country and are well positioned to facilitate financial transactions in the communities which they serve.

spot_img
spot_img

Hot this week

Nigeria, Brazil Central Banks Deepen Economic, Financial Co-operation

Nigeria’s Central Bank Governor, Olayemi Cardoso, has held talks...

Ecobank Nigeria to Host Second Edition of Design & Build, Showcasing Premier Innovators in Design, Construction

Ecobank Nigeria, a subsidiary of the leading pan-African banking...

Expert: Fintech, Financial Inclusion Critical for Sustainable Growth of Nigerian Economy

A renowned economist, Dr. Biodun Adedipe, the Chief Consultant/CEO,...

Sterling Bank Marks One Year of Africa’s Groundbreaking Core Banking System

Number one Best Workplace in Banking in Nigeria and...

Topics

USPF Donates Emerging Tech Centre to Ogun State Institute of Technology

The Universal Service Provision Fund (USPF) of the Nigerian...

U.S. Condemns China’s Cyber Rules for Insurers

Controversial cyber security regulations for China’s insurance industry, now...

Stanford Seed Partners Entrepreneurs in Africa to Catalyze Economic Growth

Frank Omondi is a wildlife biologist turned entrepreneur. His...

FOR THE RECORD

A PAPER ON THE PROPOSED COMMUNICATIONS SERVICES TAX BILL...

Adeosun: PPP Model to Drive Infrastructure Plan

The Minister of Finance, Mrs. Kemi Adeosun said at...

Africa–Brazil Relationship: Standard Bank Facilitates Investment Opportunities 

Over the past decade, Sub-Saharan Africa’s 4.1% average growth...

The N714bn Bailout: Matters Arising

It was good news the other morning when news filtered out that the federal government has graciously given cash-strapped states a bailout of approximately N714 billion to settle outstanding salaries and other forms of wages to workers in their states. To the workers, it was probably the best news of the year 2015, given that some that had fallen into arrears for upwards of seven to nine months. To ordinary Nigerians not directly affected by the salary crisis in the affected states, the bailout represents a moment of relief from the plight of the workers. For the state governments, the bailout is only a temporary measure to relieve them of the scandalous inability to meet their obligations to workers in the states.

Scatec Solar Secures 100 MW Solar Project in Nigeria

Scatec Solar has signed an agreement with CDIL, a...
spot_img

Related Articles

Popular Categories

spot_imgspot_img