Mainstreet Bank commits N10bn to agric development, lauds FG

Mainstreet Bank Limited says it has supported Nigeria’s agricultural sector with about N10 billion under the Growth Enhancement Scheme (GES).

Roger Woodbridge, executive director, corporate and investment banking of Mainstreet, also commended the Federal Government (FG) for coming up with GES which is designed specifically to provide affordable agricultural inputs like fertilisers and hybrid seeds to farmers in order to increase their yields per hectare and make it comparable to world standard.

Speaking to newsmen after a stakeholders’ meeting held in Abuja recently, Woodbridge acknowledged that the GES scheme has enabled the private sector to play an integral role in growing the nation’s food production.

Citing Mainstreet’s experience in funding fertiliser distribution to agro-dealers and smallholder farmers, he stressed that the public private partnership (PPP) provides effective framework for private sector engagement in overall agricultural development.

He noted that Mainstreet Bank offers a learning experience to other banks that are still sceptical about agricultural funding.

In his words, “Nigerian banks must lend support to human centred development activities such as agriculture which has the ability to increase the production capacity of local farmers as well as aid to gainful employment for the youth population”.