Press Releases

Unity Bank partners RIFAN on rice pyramid project, pledges support for farmers.

Unity Bank grows gross earnings to N57bn, profit up 21%

Unity Bank Plc has partnered Nigerian rice farmers under the aegis of Rice Farmers Association of Nigeria (RIFAN) to unveil a mega rice pyramid project on the occasion of the recent National Rice Festival in Abuja.

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(CBN) Anchor Borrowers Programme (ABP).

Speaking to newsmen at the event, the Managing Director/Chief Executive Officer of Unity Bank, Mrs. Tomi Somefun, while going down memory lane on the support of the rice farmers by the bank since the inception of ABP, commended the rice farmers for their unwavering belief and collaboration in the implementation of the intervention programme, adding that as the PFI (Preferred Financial Institution) for the ABP transactions, the bank will continue to support the farmers and ensure that more smallholder farmers get the requisite financial support to boost rice production.

Read:  UNFPA Regional Ambassador Stephanie Linus Visits Ghana

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.

Read:  Extraction 2: Hollywood Russo Brothers invite Ikorodu Bois to movie premiere

“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, including the Federal Capital Territory (FCT).

“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.”

Read:  Tecno Launches New Camon 11 Camera with AI Technology

Speaking further, she said: “The rice pyramids we see here today is an example of the resilience of the farmers and should be replicated in all the 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.”

Source: sunnewsonline

Related posts

Main Jar Session with Banker turned Hairstylist, Bruno Oaikhinan


Omu Resort welcomes first zebra in Lagos


UFC’s Kamaru Usman to build academy in Nigeria.


The Joy Masterclass debuts in London.


Facebook Launches Africa’s First SME Council in Nigeria


Sanwo-Olu, FRSC Boss, Biu, Others To Attend 2022 Nigeria Nigeria Auto Award


Leave a Comment