The Kwara Government has appealed to the Chartered Institute of Bankers of Nigeria (CIBN) to evolve ways of giving long term loans to farmers to boost food production.
Mr Kayode Alabi, the Deputy Governor of the state, made the call in Ilorin on Friday when a delegation from CIBN led by its Chairman, Mr Ababe Abdusalam, visited him.
The deputy governor urged banks to exhibit more creativity in policy formulation to encourage investment in farming.
“Long term loans will encourage farmers and other investors to embark on long term projects. The CIBN should take more risks for farming to thrive.
“I advise the institute to come up with affordable loan plan that will enable farmers and other small scale businesses to thrive in the state,” he said.
Alabi pledged the support and cooperation of the state government to the institute, saying, “we can replicate the rice farming system in Kebbi if banks will support us,”’
“As a state, we have the wherewithal to develop the agriculture sector with the help of other stakeholders such as financial institutions.
“We believe that farming is the way out of poverty, we need the support of relevant stakeholders,” he said.
He also urged the institute to evolve ways of tackling fraud and penalising bank officials who aid financial fraud.
In his remarks, Abdulsalam said the visit was to congratulate and identify with the new government in the state.
“We also wish to use the opportunity to pledge our willingness to work with the government toward boosting economic activities in the state.
“As manager of resources and custodian of economic development, the CIBN will continue to advise the government on workable policy initiatives that will bring positive results,” he said.