FIDELITY Bankâ€™s efforts to support the agricultural sector and ensure food security in Nigeria have been commended by the Nasarawa State Governor, Alhaji Aliyu Akwedoma.Governor Akwedoma, who was speaking on Tuesday, at the launching of the tractor acquisition scheme of the Nasarawa Local Government which was funded by Fidelity Bank, further remarked that the bank had always demonstrated a commitment to the funding of agricultural projects and ideas that benefit the nation.
He expressed gratitude that the State, through the Nasarawa local government, was benefiting from the bankâ€™s patriotism and commitment.Alhaji Akwedoma who was represented by the Deputy Governor, Mr. Mikel Abdul, further recalled that earlier in the year, the bank had launched its Agri-Nigeria Project initiative that sought to create a new generation of Nigerian farmers, by revolutionizing the way the business of agriculture was perceived and practiced.He urged other banks and financial institutions to refocus attention on the yawning gap in agriculture financing.
as it is the only way that the nationâ€™s quest for food sufficiency would be realized.The tractor acquisition scheme is an equity-based initiative of the Federal Government, through the Federal Ministry of Agriculture. Under the tractorization scheme, contributions are made by the Federal, State and Local governments as well as cooperative societies and other bodies in an organized effort to acquire tractors. A bank, under the arrangement, provides funding that is repaired over a stated period.
The Nasarawa Local Government initiative is the first full implementation of the nation wide tractor acquisition scheme supported by the bank under this Federal Government initiative. A total of 20 tractors were launched on Tuesday in this first phase of the programme.
According to the Managing Director of Fidelity Bank Plc, Mr. Reginald Ihejiahi, the bank is fully determined to support the Federal Governmentâ€™s vision of a nation that is self-sufficient in food production and indeed a net exporter of food.
Mr. Ihejiahi was represented at the launch by the bankâ€™s head of the Agriculture Desk, Dr. Musa Tarimbuka.
It will be recalled that since the launch of Fidelityâ€™s Agri-Nigeria initiative in March this year, the bank has embarked on a focused support to agriculture sector.
Last month, the bank also went into arrangement with the agricultural giants, Olam Ltd, and the United States Agency for International Development, USAID. This is to support rice production is Nigeria, which will save much of the money spent by the country on rice importation.