Agriculture Now Providing Substantial Part Of Nigeria’s GDP – BoA MD

Reforms and innovations in the agricultural sector has led to it providing substantial part of the nation’s gross domestic product (GDP) and become indispensable in the nation’s quest for development.

Managing director of the BoA, Alh Kabiru Mohammed stated this when the Group Managing Director of LEADERSHIP Newspapers, Mallam Abdul Gombe paid him a courtesy call at the Bank’s corporate headquarters in Abuja last weekend.

He, however, stated that the attitude of beneficiaries of loans provided them by the Bank of Agriculture (BoA), especially as it relates to repayment is impeding rapid growth in the sector and thus forcing the bank to consider publishing names of defaulters.

Alh. Mohammed who lamented that farmers and beneficiaries of agric loans had not made it obligatory to repay loans given to them, said the effect usually bounced back on the revolving scheme set out by the bank and hence the larger targeted beneficiaries who are supposed to further benefit from the loans.

“For forty years , the BoA has been financing agric and non agric tools. But there is need for a change in mindset especially among the beneficiaries of our loans as some beneficiaries see loans as compensations and sometimes even as gratification . But they just must see it as pure business as that is what agriculture is whether in production, marketing , distribution or otherwise”, Mohammed said.

He revealed that towards the success of this cause the BOA was also reviewing it’s laws in a bid to enhance compliance, efficiency and service delivery.

The BoA managing director commended the management of LEADERSHIP , saying he had noted the passion with which the Newspaper covers the agric sector , adding that all hands must be on deck to develop the nation.

Earlier, GMD of LEADERSHIP Newspapers , Abdul Gombe had commended the BoA management for its foresight and distinct innovations which over the years had made the ordinary Nigerian, especially farmers, feel the impact of government and thus contributing to the growth of the nation’s economy .

He charged the BoA management to continue empowering Nigerians as aside education, agriculture remained a most potent tool in poverty alleviation.

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