Ekiti signs MoU on agric modernisation

The three institutions are Manufacturer, Agricultural Company (AGCO), Dutch Agricultural Development and Trading Company (DADTCO) and the Bank of Agric.The Secretary to the State Government, Alhaji Ganiyu Owolabi, signed on behalf of the government.The investors said their willingness to partner with the state was informed by “the seriousness of the government” in the pursuit of […]

The three institutions are Manufacturer, Agricultural Company (AGCO), Dutch Agricultural Development and Trading Company (DADTCO) and the Bank of Agric.
The Secretary to the State Government, Alhaji Ganiyu Owolabi, signed on behalf of the government.
The investors said their willingness to partner with the state was informed by “the seriousness of the government” in the pursuit of its vision to provide food security, generate at least 50 percent of its revenue and combat the menace of unemployment through the agric sector.
The Managing Director of AGCO for Africa and the Middle East, Mr Ousmane Nurudeen, who signed the agreement on behalf of his company noted that the role of modern technology in actualizing the goals of government cannot be overemphasized and this is responsible for the training of young farmers in the use of the machines.
Nurudeen added that although AGCO does not train end-users of its products, the company in fulfillment of its commitment has trained 36 youths in the use of modern agric machines, which he said is the difference between “a good farmer and a bad farmer.”
He said his company would provide machines for the initiative and also educate farmers on how to use the machines to achieve best result in the sector thereby fast-tracting the transformation of the  agric sector.
The Managing Director, Bank of Agriculture, Dr Mohammed Santuraki, expressed delight at the gesture of the state government in organizing the Agbeloba Agribusiness Forum which he said is coming at a time the country is facing a crisis in the sector.
Santuraki said the MoU would ensure the contribution of N300 million each by the government and the bank in the first phase of the agreement which was originally designed to raise N1 billion loan for farmers, while the bank will also support the state’s YCAD programme with another N200 million, saying the agric sector requires special funding because of its socio-economic impact.