The Group Managing Director/Chief Executive Officer of Skye Bank Plc,
Mr. Timothy Oguntayo, has disclosed that the bank's agricultural
portfolio had reached about 10 per cent from five per cent two year
agonke, showing its support to the development of the nation's economy.
Oguntayo
who said agriculture comprised a significant portion of our portfolio
in Skye Bank, noted that From less than five percent two years ago, the
bank has now raised its contribution to the sector to nine per cent and
almost hitting 10 percent.
The Skye Bank CEO, who spoke with
select journalists on the sidelines of 3rd Ogun State Investors' Forum
held in Abeokuta, the Ogun State Capital,said the bank was supporting
agriculture in nine states under the pilot agriclutral scheme with focus
on rice and cassava production.
"We have brought in
international participants - those who have done it successfully in
other parts of the world – to come and work with clusters of farmers; a
group of farmers we have in Ogun State here, we have in Osun State, we
have in the northern states."
He said that the pilot agricultural
schemes currently located in nine Nigerian states and centered on rice
and casava production, are expected to open up massive economic
opportunities for young entrepreneurs and jobless Nigerians.
Speaking
on the Ogun State Investors' summit, Oguntayo said Skye Bank was
partnering with the state in line with its retail focus on developing
SMEs through agricultual financing in line with the import substitution
strategy of the Federal Government of President Mohammadu Buhari.
"So, our intervention aligns with the program of the state. And when
you talk about SME, you will be talking about agriculture; you’ll be
talking about transportation and you’ll be talking about small-scale
manufacturing,value chain. And that’s what we are doing with Ogun State
and at the same time, we are doing with other states in the federation.
He however, urged government at all levels to support all private
sector's efforts centred on wealth and employment creation as well as
other ventures that tend to improve and grow the nation's economy,
adding that government only needed to create enabling business
environment for investment.
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