Jaiz Bank, Firm Cultivate 10000-Hectare Rice Farm In Bauchi

In a bid to enhance agricultural productivity in Bauchi State, Jaiz Bank Plc, Nigeria’s pioneering non-interest bank, in collaboration with Tiamin Rice Limited, has funded the establishment of a 10,000-hectare irrigation farm.

 

 

In a statement issued by Jaiz Bank, the bank announced that the farm received funding through a collaborative effort between the Central Bank of Nigeria’s Private Sector-Led Accelerated Agricultural Development Scheme (P-AADS) and Jaiz Bank’s commercial funds.

 

Part of the statement read: “This is in addition to the expansion financing of the company’s processing capacity from the existing 320Mt/Day to 920Mt/Day through the procurement and installation of additional 600Mt/Day processing machinery and equipment in Bauchi.”

 

During a recent inspection visit to the farm, Jaiz Bank’s Managing Director/CEO, Haruna Musa, expressed his satisfaction with the facility’s performance and encouraged the farm management to continue meeting their obligations to the bank.

 

He highlighted the bank’s commitment to supporting agricultural projects that positively impact the lives of individuals, businesses, and the national economy, citing several successful projects financed by the bank.

 

In his remarks, Jaiz Bank’s Chairman, Mohammed Mustapha-Bintube, reaffirmed the bank’s dedication to supporting the real sector of the economy, with a focus on agriculture.

 

He emphasized the bank’s commitment to stimulating economic growth and development through agricultural financing.

 

According to Mr. Bintube, agricultural financing has a significant multiplier effect, leading to job creation, preservation of foreign exchange, and enhanced food security for the nation.

 

He highlighted the importance of continued investment in the agricultural sector to drive economic progress and improve the well-being of citizens.

 

The bank is willing to do more of such partnerships with reliable and committed investors like Tiamin, to grow the economy,” he said.

 

Aminu Ahmed, Group Managing Director of Tiamin Rice Ltd, commended the management team of Jaiz Bank for trusting his company’s ability to successfully manage the two projects.

 

He expressed gratitude for their support and trust.

 

He announced that the farm has commenced harvesting approximately 800 hectares of rice plantation cultivated this dry season and has started preparations for the cultivation of about 2,000 hectares this wet season.

 

 

 

 

 

 

 

 

Agronigeria/Oyenike Oyeniyi

Comments are closed.