The partnership between banks, agriculture and Governmment is an important one that benefits all parties, hence, Cross River State Governor Sen Bassey Edet Otu, seeking partnership with Fidelity Bank.
Governor Otu said the state was ready to forge strategic partnership in key sectors of the state’s economy.
Therefore, “Our focus right now is agriculture,” he said.
He made this known when the management of Fidelity Bank of Nigeria visited him in Calabar.
After welcoming the management team to his office, Otu told them that his Governmment is deliberate about agriculture.
Hence, “we want to get the most from that sector.We are looking at what will immediately add to our GDP.”
Moreover, “we have about six core projects we are looking at taking off at the same time.”
In addition, “we will inform you on what we need to do in that particular sector.”
Meanwhile, “My administration views Fidelity Bank as a critical partner in our resolve to reposition the state as a major agricultural hub in the country.”
The governor said he was indeed so excited about this opportunity, adding that he looks forward to a rewarding partnership with the bank.
Also, the management of Fidelity Bank of Nigeria led by the Chairman, Mr. Mustapha Chike-Obi and Managing Director/Chief Executive Officer, Dr. Nneka Onyeali-Ikpe expressed readiness to partner the State in agriculture and infrastructural development.
Nevertheless, “It is not about what we can make from the state this time around, but what we can add,” they said.
The team observed Cross River State comparative advantage in the area of agriculture and promised to support the state’s infrastructure.
“We have this in other states, especially in the area of infrastructure and agriculture,” the Managing Director further disclosed.
Therefore, “we just want to reemphasize that we are ready to partner very strongly with you in this regard.”
Overall, Recall that the role of banks in agriculture is an important one.
For instance, many farmers rely on loans from banks to purchase land, equipment, and supplies.
Nevertheless, Banks also help farmers manage risk by providing insurance and other financial products.
In addition, banks can help farmers market their products by providing information and connections to buyers.
And lastly, banks can provide expertise in areas like crop management, weather data, and farming technology.