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Unity Bank pledges assistance for rice farmers

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Unity Bank Plc has stated that it will continue to support farmers and guarantee that more smallholder farmers receive the necessary financial assistance to increase rice production.

The bank said in a statement that it partnered rice farmers under the aegis of the Rice Farmers Association of Nigeria to unveil a mega rice pyramid at the National Rice Festival in Abuja.

Unity Bank pledges assistance for rice farmers

Unity Bank pledges assistance for rice farmers

It said the event, which coincided with the flag-off of the dry season farming, was used to showcase the gains produced by rice farmers in driving self-sufficiency in rice production through the Central Bank of Nigeria’s Anchor Borrowers Programme.

The statement said the Managing Director/Chief Executive Officer, Unity Bank, Mrs Tomi Somefun while speaking on the bank’s support to rice farmers since the inception of the ABP, commended the farmers for their belief and collaboration in the implementation of the intervention programme.

She said, “Our strategic partnership with RIFAN started in 2018 when we financed about 273,000 smallholder farmers. This was the largest single-ticket transaction in that year. This financing cut across 33 states of the federation including the FCT.

“In 2019, the bank increased the tally by financing another 146,810 smallholder farmers for the wet and dry season farming. This funding cut across 35 states of the federation including the Federal Capital Territory.



“Additional funding was granted to finance additional 221,450 smallholder farmers of the association across the 32 states of the federation including FCT for the wet season and additional 300,000 hectares was financed in 16 states for the 2020 dry season cropping season.

“As of March 2021, the bank has financed no fewer than 190,000 smallholder rice farmers across 35 states including the FCT, Abuja.”

She added, “The rice pyramids we see here today is an example of the resilience of the farmers and should be replicated in all states with a focus on the crop they have a competitive advantage.”

“As we gear the programme towards deepening its penetration to reach more farmers, we encourage all beneficiaries of the intervention programme to always utilise the inputs judiciously in order to key into Federal Government’s goal of attaining food sufficiency, diversification of the economy from oil, job creation for the teeming youth and poverty reduction.”

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