Access to finance, quality inputs will increase farmers’ productivity —Awosanya

In line with its commitment to the strategy of focusing investments on the Health, Education, Agriculture, Renewable energy and Transportation (HEART) sectors, Sterling Bank Plc commissioned an exclusive radio broadcast programme in 2018 to boost the application of scientific research and new knowledge to agricultural practices through farmer education. Tagged Farmers’ Radio, the programme which provides a platform for continuous interaction among key stakeholders in the agriculture sector has been running consistently since its debut. In this interview, the GM, Agric Finance & Solid Minerals at Sterling Bank, Bukola Awosanya, explains the idea behind the conception of the programme and the progress it has made. SULAIMON OLANREWAJU presents excerpts.

 

What informed the setting up of the Farmers’ Radio programme in Nigeria?

As a bank committed to the growth of the Nigerian economy and the prosperity of our people, Sterling Bank looked at the core impact and sustainability sectors of the economy and agriculture has a high impact on lives of the people and it is also known as a good source of employment, which also contributes significantly to the growth of GDP.

We saw the need to scale the agricultural value chain with the aims of improving food sufficiency, import substitution, and an alternate source of foreign exchange through diversification. So, we strategized and came up with the idea of how to inform them about good agricultural practices; improve farmers’ livelihoods and increase their yields at the first level of impact. We found out that this can largely be achieved through a medium with wide reach and what they listen to. Our research shows radio as the best platform hence the programme.

The objectives we set out to achieve with the Farmers’ Radio were to provide a platform that increase the knowledge and capacity of farmers to meet the quality and quantity required by industrial off-takers; encourage continuous interaction among key stakeholders; identify investment needs of industrial processors, agro allied companies, farmers’ associations and tailor financial products to address them and improve financial literacy among small-medium scale farmers.

Also, the Farmers’ Radio is a strategy of Sterling Bank to contribute to the shaping of policies that impact Nigeria’s agriculture locally and internationally. Through the radio programme, Sterling Bank is able to position itself as a central business host or facilitator – providing an open platform – that allows stakeholders in the agricultural space to present their areas of concern and explore opportunities to resolve them.

 

How has the target audience responded to the programme?

Farmers have shown a great deal of enthusiasm and appetite towards the programme. The main target audience is the small and medium scale farmers’ demography in rural areas. Other stakeholders have also been very appreciative as it had provided them a platform to discuss their needs, requirements and products.

Some stakeholders that have featured on the programme include Mahindra Tractor, CEO of New Nigeria Commodity Marketing Company; President of the Maize Farmers Association (MAAN) Professors from Ahmadu Bello University; a board member at National Agricultural Seed Council (NASC), Ibrahim Musa; Alhaji Abba Dantata (FURSA FOODS); district heads and traditional rulers in Zaria, among others.

Instructively, access to finance is the major subject of enquiry. And this surely points to one thing; we are on ground as far as agric and mineral resources funding is concerned in the Nigerian financial sector. The next popular enquiry focused on advisory support covering other critical aspects of the sector including agronomy and mechanisation, among others.

 

Has the programme been able to achieve the objectives it was set up to address?

Since commencement, the listening public has been increasing and impact is turning out tremendous. Farmers have had the opportunity of getting more clarity on their businesses. You will agree with me that information is power. A well-informed person can go ahead to use the right information at their disposal to effect meaningful change. So, this is what the programme is doing for farmers. Beyond the right dissemination of information, if one is not empowered to act, the information may become a burden. So, through the programme, farmers also get to know the bank’s various offering that can improve their businesses. Those who enjoy this service the most going by our records are smallholder farmers and agro allied companies in Northern Nigeria because we started from there. The number is on steady increase from that part of the country.

The Farmers’ Radio has since been expanded to all geo-political zones in Nigeria, with broadcasts in 19 states across the country. The program is being used to improve awareness and knowledge of solutions to agriculture and financial literacy among rural people, providing linkages between all stakeholders in the agricultural value chain.

As you may be aware, Sterling Bank has a special consideration for certain sectors of the economy which we call the HEART sectors. So, the farmer’s radio programme is one of our signature interventions in the agricultural sector just as we also organise the truly pan-African agricultural summit under the name Agricultural Summit Africa, which we have done since 2018.

This year’s summit will be held online in keeping with public health realities and theme is Fast Forward Agriculture: Exploiting the Next Revolution. It will focus on the full length of the agribusiness value chain with sessions on data and technology, climate change, sustainable financing for women, youth and smallholder farmers as well as public-private partnerships.

There’s also a deal room for investors and fund seekers to be matched to provide financing opportunities for interested parties and drive increased value in the sector.

 

Has the awareness created among farmers led to increased produce yield?

So far, it has been so good. It has increased farmers’ awareness in the area of Good Agricultural Practices (GAP), farmers have also been exposed to innovations in the agricultural space which have dovetailed into improved yields such as the SABEX digital commodity platform, which is designed to address issues around storage and post-harvest losses, improve access to market and allow for better pricing of the farmers’ produce.

 

Given your experience so far, how will you describe the problems of small holder farmers and what can be done to resolve them?

One major problem faced by the farmers is credible and timely Information required improving knowledge and productivity which is part of what the Farmers’ Radio programme is addressing. Farmers, particularly those in remote locations with limited access to extension workers, traditionally depend on radio for information and entertainment. Sterling Bank is leveraging the predominant channel most accessible to provide credible and timely information on best agricultural practices to adopt new technologies and innovations in the agricultural sector as a way of optimising their resources; advisory services to curb the spread of pests and diseases, and also inform farmers on the tailored facilities that Sterling Bank is making accessible to them.

Most small-medium scale farmers from our engagements and years of experience do not have a good savings culture; hence, we saw a need to plug that loophole by providing financial literacy again through the programme. We understood from the onset that this lifestyle can affect their chances to get access to finance needed to scale their business.

Also notable among the challenges facing farmers is access to inputs such as improved seeds, fertilizer, etc. Though we have seen many routes to resolving this issue, we believe this can be put behind us speedily and finally if steady financing is made available at affordable rates with favourable conditions to the farmers. Again, we are working with stakeholders providing the needed funding as a way of enhancing increased productivity on the part of farmers.

 

How can small holder farmers scale up their operations to make the country self-sufficient in food production?

In Nigeria today, farmers will scale their operations if they get access to finance and improved inputs e.g. good quality seeds, fertilizer quality and quantity and provision of adequate mechanisation services.

With confirmed and adequate market linkages/access to market, we can aid the process by identifying investment needs of industrial processors, agro-allied companies and encourage farmers associations to produce more since the market is available to off-take all that is produced and tailor financial products to address them.

Finally, if farmers are continually updated with the right knowledge and capacity, they will meet the quality and quantity required by industrial off-takers. By this, we will do better feeding the country and even have some to export.

 

How can the agric value chain in the country be integrated for sustainable development of the Nigerian economy?

For a fact, the sector has a huge potential for the growth of the country’s economy. What agricultural value chain can do is to improve linkages between all stakeholders across the value chain. It can also provide job opportunities for women and youths, serve as source for import substitution, ease pressure on the country’s foreign exchange, ensure food security and internally generated revenue for governments at all levels.

As a leader in the agricultural financing sub sector, we believe more funding will do magic required to achieve some of the above areas listed and give accelerated growth to the socio-economic growth of the country. If other financial institutions can toe our path, we will do better and achieve more. Also, there is a need for policy action as well as full integration of technology in agricultural practices across the country.

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