Nigerian Banks set to fund agribusiness with N500m

Banks in Nigeria have pledged a combined 500 million naira to fund agriculture and agribusiness.

The Nigeria Incentive-Based Risk Sharing System for Agricultural Lending, made this disclosure recently at a media parley in Abuja.

The agency Managing Director, ALIYU ABDULHAMEED noted that the banks finance facilitation efforts have generated an additional 2.5 billion dollars worth of economic activity through agricultural products/outputs and other value chain economic activities, created 360,000 direct jobs and positively impacted the lives of 1.8 million Nigerians.