Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.


New partnership boosts farmers' prospects

27 September 2013, 11:26Henry Ifeanyi

Lagos – A new partnership between Stanbic IBTC Bank, Tata Africa Services and John Deere Financial, a division of United States-based John Deere has raised prospects for farmers in Nigeria.

A statement by Stanbic IBTC Bank said the bank was thrilled to partner with John Deere, a manufacturer of agricultural machinery and heavy equipment globally and Tata as their growth plans would help stimulate growth of the country’s agriculture sector on a sustainable basis.

The statement quoted the Chief Executive Officer of Stanbic IBTC Holdings, Sola David-Borha, as saying that the collaboration would be pivotal in diversifying the country’s economic base.

“This is in addition to the immense benefits that will accrue to Nigeria’s quest to catalyse growth of agriculture by unlocking access to bank financing for operators along the entire agriculture chain,” she said.

According to her, the country’s natural resources are expected to drive strong growth and attract investments in the energy, mining, infrastructure development and agriculture sectors.

She said the bank was well positioned to provide on-the-ground banking operations and staffed by expert teams familiar with local business conditions and regulations.

David-Borha urged stakeholders in the agriculture industry, particularly small holders and commercial farmers, to turn to banks for structured funding to boost their productivity, as the various tiers of government work around creating an enabling environment and appropriate policies that would reduce the credit risks associated with agriculture lending.

The Managing Director of John Deere Financial for sub- Saharan Africa, Jacques Taylor, said the combination of the globally recognised John Deere brand and the bank will create a major platform to support all stakeholders especially the dealer networks.

He said the collaboration could make a real difference in the country not only in terms of business but in helping millions of Nigerians improve their lives through profitable farming.

The Regional Director, West Africa, Tata Africa Services, Sudeep Ray, said the company would  participate in the unfolding agricultural revolution in the country.

“Tata has been in Nigeria for over eight years and is committed to mechanisation of Nigeria’s agriculture sector. We understand the needs of everyone along the agriculture chain and the collaboration with John Deere and Stanbic IBTC reinforces that goal of finding solutions to the sector’s needs. Our customers not only want us to provide them with the right equipment, but also to offer them integrated equipment purchasing solutions. This collaboration will facilitate this for our clients, thus reinforcing our aspiration to be the first choice in agricultural equipment in the African region,” he added.

– CAJ News


Read News24’s Comments Policy

Comment on this story
Comments have been closed for this article.

Read more from our Users

Nigeria @ 56: Words to my green f...

A leader’s job is not to dictate, but rather to be respected, admired and be a trustee, of the land we love, with so much potential, a land which should be freer than free. Its still a long way to fufilling our destiny! Read more...

Submitted by
Isaac Asabor263
Recession: An opportunity for Nig...

The recession should be seen as an opportunity for the country’s promotion as long as we all collectively conduct ourselves in a patriotic manner, writes Isaac Asabor.  Read more...

Submitted by
Black and White

We want to imitate the whites in everything because we are ignorant of our inherent originality and content. We spend all our Naira to acquire his inventions because we so oblivious of our natural endowments that we allow him have it for free. Read more...

Submitted by
Nate Nat
Adamawa State University Mubi: A ...

ADSU integrity forum has accused the Sunday Joshua Wugira, a lawyer, of adopting unorthodox tactics by abusing his privilege by attacking the integrity of ADSU Vice Chancellor Dr. Moses Zira Zaruwa, writes a News24 reader. Read more...

Submitted by
Abdulsalam Jubril
My Country Nigeria (Part One)

Poetry by Abdulsalam Jubril.

Submitted by
Abdulsalam Jubril
Recession, dearth in leadership a...

Every leader has the opportunity to become great and making himself immortal in the lives and hearts of people for generations to come. Will Mr. President seize this opportunity?, questions Abdulsalam Jubril. Read more...