Mr Felix Anosike, Port Harcourt Branch Manager, Bank of Agriculture (BOA) has called on politicians to create agricultural jobs, lure youths into farming to enhance food production.
Anosike made the remark in an interview with the News Agency of Nigeria (NAN) in Port Harcourt on Tuesday while lamenting poor youth response to agriculture.
He noted with dismay that youths in Rivers preferred quick returns by investing in buildings and rental properties rather than farming.
A lifestyle, he said, had contributed to high cost of food in the state.
“Some will say they don’t have land to farm but they prefer planting flowers in areas too small for a building rather than planting vegetables which are of economic value.
“Rivers youths need to come into agriculture, a few percentage of youths who are into agriculture including fish farming here are non-indigenes.
“Politicians should begin to invest in agriculture to create employment; a catfish fish farmer, for instance, only waits for about four to six months and the fish is ready for harvest.
Anosike affirmed that if politicians began to channel constituency funds into agriculture, private individuals and youths would develop the zeal for farming and agri-businesses.
He added that BOA offered the lowest interest rates on loans, having maintained a stable rate in more than 10 years.
He noted that as a federal government initiative, the bank was geared towards promoting agriculture, strengthening its value chain and small businesses in the country.
According to him, the bank offers various loan facilities ranging from N250,000 upwards with agriculture attracting about 12 per cent interest while SMEs attracts only nine per cent.
The manager, however, explained that the bank had been in a smooth partnership with some farmers co-operatives, including the Rivers Co-operative Federation and state chapter of Nigeria Poultry Farmers Association.
According to him, for now, there are no challenges on loan repayments in our partnership with Rivers Co-operative Federation because the co-operative is managed by civil servants.
“The major condition for accessing the loan is that the client must have a salary account with us where we make deductions at source, so it’s a 100 per cent repayment schedule.
“Part of security for the Poultry Association of Nigeria is their Property but in the event of unforeseen circumstances, it’s a collateralised facility, the insurance securities are accessible.
“For lower facility of about N250,000 for those who are neither working nor in business, a dependable guarantor covers for them. ” he added.(NAN)
