Ekiti State governor, Mr Biodun Oyebanji, has said his government would put all machinery in motion to encourage youths in the state to engage in agricultural business, to help boost the state economy and the food security agenda of his administration.
The governor, who stated this while on a working tour of some agricultural projects in Ado- Ekiti, said he was impressed with the resolve of some youths to embrace agriculture full time, stressing that one day, they too would become employers of labour.
The project sites visited by the governor included the Livestock Development Centre, which provides platform for the Ekiti Broiler Production Scheme; A-Bamsil industrial factory, a palm kernel processing plant; and JMK rice mill.
Oyebanji said government alone cannot fund agriculture, hence, the need for improved public, private partnership to reposition the economy of the state.
He said his administration would build platforms and institutions aimed at collaborating with private sector players to open up space for Ekiti people to apply their expertise in the drive to ensure everyone lives well.
The governor, who addressed some of the youth participating in the broilers scheme, promised to remove all forms of constraints in doing business in the state.
Oyebanji said agriculture plays significant roles in the economy, added that it has the capacity to employ thousands of youths, make them enjoy vibrant and profitable means of livelihood and enhance the economy of the state.
According to him, “Part of our plan is to encourage our young ones to go back to farm. The broiler scheme for our youths is a pilot scheme and I’m so impressed that our young ones are now showing interest in agriculture and it speaks to one of our agenda on agriculture, job creation and youth development.
“And by God’s grace, once this one is stabilised, we intend to expand it. The beauty of this project is the fact that government will hand-hold them through the whole process of production.
“There is also a guaranteed market to off-take from this. Once they master what they are doing, they will be given a pen of their own that will belong to them, from which they too can employ labour and make money and it speaks to our shared prosperity agenda.”
Conducting the Governor round the JMK Rice Mill, the General Manager, Lanre Solaja expressed his appreciation to the Governor for the visit, adding that when fully operational, the mill has the capacity to produce 160 metric tons of rice per day.
The Managing Director of A-Bamsil industry, Mr Idowu Owoyomi, who said the factory is capable of refining 250 metric tons of palm kernel, highlighted some of the products the factory is capable of processing to include cooking oil, cosmetics, oil for perfumes, soap among other.
Stanbic IBTC supports Nigerian farmers to boost agriculture value chain
As part of efforts targeted at supporting small-scale agribusinesses and improve their agricultural yield, Stanbic IBTC Bank, a subsidiary of Stanbic IBTC Holdings, has increased the capacity of Nigerian agro-firm, Huetha Global Services, to supply agro resources for soil improvement and enhanced agricultural production.
According to the CEO of Huetha Global Services Limited, Salem Ahenjir, the Bank’s customer-centric agribusiness solutions and trust in the capacity of Huetha Global Services Limited have significantly contributed to its growth and expansion.
Salem said: “Our relationship with Stanbic IBTC dates back to 2012, and we have worked together to improve our financing for agro-inputs and increase our value chain capacity. Stanbic IBTC Bank offers the opportunity to off-take various commodities farmers produce from their farms. This way, we improve the agricultural value chain across touchpoints.
“We access financing for fertilisers and increase our support to farmers. Fertilisers have become a high price commodity which makes it difficult for farmers to access, but through our relationship with Stanbic IBTC Bank, we can timely deliver fertilisers to farmers at the best price.”
Wole Oshin, Head, Agribusiness, Business and Commercial Clients, said Stanbic IBTC offers various agribusiness solutions that cut across every aspect of agricultural practice. He stated that the solutions are structured to support the country’s import substitution objectives and ensure profitability for businesses.
Oshin said, “Our agribusiness solutions are customised to suit our client’s business needs. We proffer solutions to players in the agribusiness sector for affordable and flexible funding from the vehicle and farming equipment to seed level, harvesting, processing, and distribution.”
Oshin assured customers of Stanbic IBTC Bank’s willingness and availability to partner with them for sustainable growth and expansion in the agricultural value chain.
“Agriculture is a critical part of the economy and critical for food security. We are always ready to partner with business owners, in and out of season,” Oshin said.
Stanbic IBTC’s agribusiness offers versatile, affordable gap-funding solutions for vehicle and farming equipment, unforeseen financial needs, cash flow maintenance, and flexible repayment terms.
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