The Niger State Government has formalized a N50 billion Memorandum of Understanding (MoU) with Union Bank of Nigeria, focusing on the agricultural sector.
The agreement was finalized at the Niger State Government Lodge in Abuja, with the Chairman of Niger Food Security Systems and Log Limited, Mr. Sammy Adigun and the Special Adviser to the Governor on Special Duties, Dr. Murtala Bagana, signing on behalf of the State Government. Union Bank Representative, the Director of Tropical General Investment, Sadiq Kassim, also endorsed the agreement.
This MoU centres on the supply of sesame seeds, soya beans, maize, and paddy rice from the Niger State Government to Tropical General Investment, the parent company of Union Bank.
Governor Mohammed Umaru Bago, hailed as the “Farmer Governor,” described the agreement as historic, expressing confidence that, “it would enable the State to establish a comprehensive value chain, encompassing production, cropping, and processing of various agricultural products.”
Governor Bago assured that the State is committed to meeting the supply requirements outlined in the agreement and anticipates a sustained partnership with the financial institution.
Highlighting further agricultural initiatives, Farmer Umaru Bago revealed a significant investment of 100 million Euros in the Sun-Farm initiative, involving greenhouses equipped with solar-powered cells for sustainable farming practices.
Alh. Farouq Gumel, Chairman of Union Bank and Executive Vice Chairman of Tropical General Investment, emphasized that the collaboration with the Niger State Government aligns with global demands, expressing gratitude to the Governor for bringing to fruition an idea conceived over many years.
Sammy Adigun, Chairman of Niger Food Security Systems and Log Limited, disclosed that Niger State aims to supply Tropical Investment with 500,000 tonnes of the four specified crops in the coming year, increasing to one million tonnes after two years.
Shakirat Sadiq
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