Abuja - The Minister for Agriculture and Rural Development has said that agriculture attracted private sector investment of $8 billion in the past two years.
Adesina said that the huge investment was realised because of the positive impact
of the Federal Government’s Transformation Agenda on agri-business in the
Adesina added that the best performing stocks in the Nigerian market today
were agriculture-related stocks, which he said, "perform better than banks".
According to him, agriculture is now seen as a viable and profitable sector
that creates a money trail that the banks can lend to.
He said the banks were currently adapting their profit-driven business to
accommodate the agriculture sector owing to the massive potentials inherent in
The Minister pointed out that through the Federal Government’s Growth
Enhancement Support (GES) scheme, banks had begun to offer loans to farmers,
seed companies, and agro-businesses like never before.
“Last year, the banks lent to those agro-dealers, N3.5 billion. This year,
the banks lent N20 billion to those agro-dealers.”
The minister said banks’ readiness to extend the loans offered to farmers
and agro-dealers testified to the significant progress that had been made in
He commended the Central Bank Governor, Lamido Sanusi, for his contribution
to the growing confidence of the banks in the agriculture sector.