Nigerian Bank to Finance Smallholder Maize Farmers

Unity Bank Plc has disclosed that it will provide additional funding to 120,000 smallholder maize farmers in Nigeria for the 2021 wet season farming.

The development was in furtherance of the bank’s commitment towards supporting maize farmers and making Nigeria self-sufficient in the production of the staple crop

Unity bank is a major stakeholder in the rollout of the CBN’s Anchor Borrowers Programme.

The bank in a statement titled ‘ABP scheme: Unity Bank set to extend additional funding to 120,000 smallholder maize farmers’ announced the financing initiative for smallholder farmer.

Meanwhile, the Managing Director/Chief Executive Officer, Unity Bank Plc, Mrs Tomi Somefun, in her goodwill message at the unveiling of the first national maize pyramids and flag-off of wet season farming programmes in Katsina restated the bank’s commitment towards making funds available for maize farmers in Nigeria, particularly smallholders.

Somefun who was represented by the Head, Agribusiness, Unity Bank, Mrs Patricia Ahunanya, noted that the strategic partnership with the maize association commenced in 2019 with the financing of about 37,182 smallholder farmers

The bank increased its financing to 70,604 smallholder farmers in 2020, she said, adding that it will continue to make strategic investments into the sector in line with the Federal Government’s quest to attain food sufficiency, diversify the economy away from oil, create jobs for the youth and reduce poverty

In her words, “Unity Bank is fully committed to its partnership with MAAN, and this commitment will ensure the attainment of FGN/CBN target to meeting self-sufficiency in maize production through the association,”

“The maize pyramid will go down in history as the first maize pyramid in Nigeria which demonstrates not only the resilience of our farmers but also the commendable vision of the Federal Government of Nigeria through the implementing partners.

“This should be replicated in all states with a focus on the crops that have a comparative advantage,” Somefun urged.