Access Bank Sensitizes Farmers on $250m Loan Facility

Access Bank Plc has said that its $250million loan support scheme to Nigerian farmers and small and medium scale enterprises is yielding economic growth as Nigerians are accessing it for the optimal growth of businesses across the federation.

The bank said it was doing so in line with the federal government economic diversification policy captured under the Economic Regeneration and Growth Plan (ERGP).

Not only that, the Access Bank said being one of the principal partners and commercial banks in the country, it was also providing support and guaranteeing intending bank’s subscribers to access the Central Bank of Nigeria (CBN) N220billion Agricultural loan to Nigerian farmers.

The bank made this known during a breakfast meeting with farmers and stakeholders in other sectors of the economy in Ibadan, the Oyo state capital.

The bank’s Group Head, Agricultural Business, David Ajayi, told participants that the bank had loan package for all types of businesses under the Central Bank of Nigeria financial intervention at single digit interest rate, and the bank’s private intervention geared towards helping farmers and other businesses.

According to him, the bank had $250m available to finance agriculture in Nigeria, stressing that apart from giving the loan, Access Bank helped farmers to succeed on their farms so that they could pay back their loans.

Ajayi said, “Nigeria is diversifying away from oil and gas to agriculture and mining. There is a lot of emphasis on agriculture and we want to take it to the next level. In Access Bank, we have a lot of packages for Nigerian farmers irrespective of what aspect of agricultural endeavour they are into. We also do things differently to achieve excellence and demonstrate our commitment to our value.