Ecobank Opens up N70Bn Agricultural Financing Scheme

Ecobank Nigeria has announced an Agriculture Businesses Finance Scheme where it plans to disburse additional loan of N70 billion for practitioners in different value chains of Agriculture within the next two years.

This announcement is coming just as the bank is set to organise Nigeria’s Biggest Agribusiness And Food Summit in February 2020. The Agribusiness summit is part of its determination to further showcase the potentials in the agricultural sector of the nation’s economy in partnership with Vanguard newspapers, The Economic Forum Series and Nigeria Agribusiness Group (NABG).

The summit with the theme: “Unlocking productivity and investment opportunities across the Agribusiness value chain,” is scheduled for February 13, 2020 at the Grand Banquet Hall, Civic Centre, Ozumba Mbadiwe, Victoria Island, Lagos.

Mojisola Oguntoyinbo, head, Agribusiness, Ecobank Nigeria, said the summit is part of the bank’s continuous contribution to the growth and development of the agriculture sector of the nation’s economy. According to her, a pool of notable thought leaders and industry experts have been assembled to address key and current issues in the agricultural space as it relates to current economic developments and participants will also be given the opportunity to exhibit their products and services within the agriculture value chain.

“This maiden edition of the Ecobank Agribusiness Summit is to stimulate discussions, examine critically the opportunities with the intent of unlocking the growth potentials in the entire value chain of the agric sector. The full day event will include keynote speakers, panel discussion sessions and exhibition of Agro and Agro-allied products where marketplace experience will be created for buyers and sellers to interact and make sales. Between 400 to 450 companies, regulators and other stake holders in Agric-business are expected to attend and participate at the event. This will create opportunity for networking among the industry players,” she noted.

Further, Oguntoyibo noted that the Summit would among other things examine the potential impact of agriculture technology investment in fixing low productivity in Nigeria’s food production; how government policy, laws and regulatory framework can drive effective public private partnership; evaluate existing traditional agriculture finance models in Nigeria and the role and impact of technology enabled commodity exchange trading across the agriculture value chain, and the role of developmental partners and international agencies in driving funding and investments across the agriculture value chain.

Jude Ndu co-counder, the Economic Forum Series and Director, Vanguard Conferences says “we are delighted to be partnering with Ecobank Nigeria on the conceptualisation, strategy and execution of this high profile event in line with the Central Bank of Nigeria (CBN) agriculture policy and the Economic Recovery and Growth Plan (ERGP) of the federal Government. As a media organisation, this is our own way of contributing to the growth prospect of the sector through audience engagement by bringing together critical stakeholders to discuss solutions to the issues of low productivity and investment opportunities across Nigeria’s agricultural value chain.”

Notable participants at the summit include the Honourable Minister of Agriculture & Rural Development, Federal Republic of Nigeria, Alhaji Sabo Nanono as Special Guest of Honour, Dr Andrew S Nevin, Chief Economist and Partner, Financial Services Sector, PwC as Keynote Speaker. Other speakers and Panelists are Patrick Akinwuntan MD/CEO Ecobank Nigeria, Abdulhameed Aliyu MD/CEO NIRSAL, Mr Emmanuel Ijewere Vice President Nigeria Agribusiness Group (NABG), Ayodeji Balogun, Country CEO AFEX Commodities Exchange among others.