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Tuesday, August 30, 20U '

9

TIllSDAY, Vol. 16, No. 5912, Page 41

BusinessWORLD

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ceanic Bank Pk: b:a !IIlIUIIEUl pans 10 r.U2 iIs fwding potIfolio fir agricultun: und ago nllied t:..D.irasrs from Ihe pR:Sd1t N-1(biIIi.1n 10 IIbout N60 billion in Ib:

Oceanic Bank Targets N60bn Agric Funding PortfoliQ

The Heal d Agro AllieaJ and &.pon.iin th;:Corporolk: Bunkil-a

t:u:k. we finana: Wltr IftSlI\llOOIlS. SitR. '2006 . ....'1: 11;1\1: llad. poofoIioofN-lO bHlioo," t.: Wd. "WI! 1\310: IIboot N40 billlu! aln:aoJy &Au,IluI Il)diffetClll aaric oq:anisabons. Wh:iI wt ha\'C C3". m;uI.;4i Ihb ytlIf is 10 grow Ih;d pW"olio if....'C t:d ~ riw.,1:irlJ of agricultural organisation.s 10 flllll.l'o:. Wo: have 5\!LRtIJ"urI; an dlOll anti we IM'C kdting forddf.:r-Cd ~ of agric insuwrions a;:ros.s !he oounuy UIOIt ....1: alII firw.na: 1hwgll0000()Io\.ll fil/lJ:u1d IIw:: fund !hat \\'OIdd be INdc ;mulabk by Ule Cenu;aJ Ilanl. 0(

O

1~I(ew)tIN

GIOo'P,E)'ir:I>·oQuadri.a~ Ihat the. uunali\c is 10 I:Ikc th;: nallOfI'S ~'U1IUr'" iCClIlfbact.1O

Ihe <b)'s ... hm the IoI:da' II.'iftI 10

l"OI1IIiI:w: 1IbouI70 paa:nt of ~ 00l1l1l1')"~

Do~ic

Gross

PrWuct (GOP). I-Ie ~ this...-Me: Idlrcs.sing th;: Inc:dia In I...agm adding th;: Bank tal IIln:3dy &i\\m (lUl1wnIi DnC' IIgricuhw-al insliluUon

10

"'lIM nll'Rthan N,wbillian from

2006 tu WIe wilh:l plm In grow ~ pon(oIio bc:twoeI, IIw:: n:gioo dNIS 10 NJO billion in ~ ro:Al

few )eaIS. "We !IR: IooIo:in& III growing dlJl patfolio belwo:n U~ qion or N IS to :!O billion udr.Iitiort1l

itJ\'l::S&m:ntIO ...."lIIIisoo~ liOI~ agricuI-.I 3fter paying

We h:ro\: fin;u:cd lura! imulUlioos

Jly Crwwe Omgie

N'.p (cnN): h: said.

He noII:d Ih;w die scaor naN c:muib.dcs less !han 40 per «nL SIIying dl:ll!he gap is OS Q result ol ltv: Iacto: of !he fon:ign c.u:han&e ....·hie.1I ustd IOrune fiOIn die 5«" lOr. IIc: IILlb:I thai !he JlIllbIo:I'n ....·M die ICt'lIJ' II)l eo:ning Iooi"

from the bank is due 10 die L-d of

rnc:ain& pain! b:lm:t.-fl dE agri. cuIttn. pIa)'CrS and the finan::i;II ill5l1lUUOflS.

"1111:)' do rot urd:nulld Cladl odler, The Iimocinl pb)'\:I'Sdo 001 IU~ how dl!: 1IgnOl1!um1 5CCUJf ....\lIt:s and Ihls is ~'hy till:)' da not ~lIIll 10 pIIlhdr money no iI, he said... IIeS.1ld W:rc:or!'A'Cdintm::slby OCQnic Bulik i:!IlIS u result of Ule Fcd;,-rA Govemruenl through liE CBN and the Ministry of Agriculul/e'!l dfOf1 to ~ in pU:e ~ Ii" .....ill make banks able 10 Iln.1l1c>c dE S«III fuml lui 10 end in the ~'IIIuc dl.1in. '-r'Or~, in Ule NitpiM lnoen!i\..: B:ISCd Rhk Sharing Syaon for Agiculrur.d IAKIin& (NlRSAL) pagranvnc that goy. ttlllnc:nl11.1!i come up with, die)' 1!lI\'e idetuifiaI siJo p!O.lu;Is fmm mJ 1013I. rmm seed~. pi"OCUSing and al l IbI: likes. E\\2)1hing )'W want 10 an

fmm this pugramme is casy an.i YW!;:IIlaboso.:ureyoor lending;-

ore begmning to look in thll an::!

' . .'d"l I k poi/llC'iJ 011 dill !he ~­ IUrA \ji:CICII' Cll1rQ be igmrca.l, adding tIu! 0x3tuc Bank Iw

~ \1.'1')' kq- 1Ocxxn:nuc jJlWo1h:' hr:~.

~

rocusing on agricuIIUI'I: ~

IU" or iI$ ~Iopment flOOllO:. ard !hal willi die m~ e:fI'un by \he f"t'dY.II (M'Cnlm:!L dlC' Bank is nlaLng if bigger- on..I abo) tk:diclJIing h:il( u( ilro COfIo-.ue b:lIlkillg. Also SllI::II.Jllg :It !he &:\\:1'1. arother ugru-allioi WX:UU\'C in the bank, ~Ir. Joocph O)'ilkllillnlh . a,:ai,J !he bani. ~ ugriculttR Ib serious iIM:stn-..'III bo:w:.e ~ cor.litmus 10 \lelllUI'C ina W: bIJsiroess k becoming ~widl the CJJN~· ill& and plIIinl !,.'UJr.IIJI«S in pbce 10 tnSUI't n:tum CXl im1:Slffii.'II6.

4h=y are m:li:i:ng !he risl bs ~ 10 be. So, wllh th:II ntM'. yOIl CJn iII:.'r; that p:oJpIc th.Ti 'AilIII. iI

Funding for Agricultural Recovery Lagging, FAO Warns ~ wcdd £O'ttIVTlaI.S mer 1OrJa)' in Ethiopia for /Ifj inlemariOllaJ pkdging COIIferr:m: airr..-d at winning ITKI"C aid f~ die 110m of Mnca, FAD has ....'aITOl lhat dTiW 10 ko:qJ Cwmcrs and ~ on thdr fa,:t. ~!he crisis from wonerun& anti 5pCCd progros 1CJ\\'lISI.I fo:c()\'Oy WI: roI bcing 9deql.l;ll&!ly fl.\lld;d Th'O cnll:qtCnC)· ITIii:lings ~by FAOio Rom::CXl25 JuTy :and 18 AlIgust heIp::d .!iII:1 the :;ug.: (or ......y·s ... frian Unioo PlaJWnF confcM'ICC, (lIising Ultcmalional a.....an:na$ of the UlipOfUlU IX 1101 only puviding

A

food I:S.SismIn tu :also ilIJlPOI1. ing food prtXb:os ard ~Iin!: food puIuctioo in &tv: Item bocl !Wi NIIIling :as: 5tlOII as pos.si-

:t

BIll WjIpOrt fill" aaivilaes out· Iincd in FJ.()·, "'Ro;Id m:rp fur Rccovay" - • $ 161 million p.1Cl.ag.:: designtd to resI(R. livelihoods and bnild the !eSilio:nt::lC 0( populoIlOIIS in the lilc:eoldiln;l\ll:oodC!lllCfsho.::~ ·

- ' - m Car- bam imWf".o..:nt. 1he UN IIFEY -SaId. with only SS1J million P41 up Or In dl:; pipclulI! 10 date, lligh a:reaI plces: a)IJIinuc in the l lam. as a:rc:aJ supply ~

declining: ..d will not be rql1enislut uruiIlhc )'t!*'$ od. -..minl ~ Ca\1lUl".lbIc ramfu.11. U\'C:UOCk rondiliuns ~ 10 ~. und the ~II burden of lCCUrIlulufed do:bts continJc:s IOcrodc both ~ II1I..I mral hou5c:hoId{ abilil)' 10 pi...

d_"""-

The IDOt planting k!lI5O!l in the Ibn or A&D is SCI 10 begin j.lSI w.:d:s ~......y, boa III1rly ~ ImYc iOId sa:d JItlIi:

or toob

10

§uyali\~

Similarly. NO\'l:uJber is norrna1Jy u tinE wilCll pQiSIIlIalists m:utcl thetr 1l\lCSlQd,;. Clming rootlC:)' they can usc 10 fo:d their

ba."auso: IIIe ~ ol food ScOd.y

Acconling 10 Ilim . !he way !he

....uidl5~.~dI.1lClll­ IlOt ~)Ihcir food ~ will b.:H Il3Iion5m h:r.\: roo.!. lie said the fi:der.r.l ~nmenl is wun..ing hard to d.,.'\'C\op dlC. sector b:causc: iI is pumping rTlOllC)' inw dl!! agri...-,n. nuuI.'iCI.:IOr.On t1~COfJxr.eSllk.. IE said OIIC uribe Ihin&s the bank io;;doinifOr~th;.:n:not IDO stm."tUII:d is dl.1l

Bank

iII~witll

o.---ur::

dlCWiIC

g<:I\'OlUlli!IU arc wWi ng 10 k:tv;IlU small coopc:r,lth'e$ of fimlm 10

IJocIu. dJCir prutkUon. "Oh:llung ....'1:111 ....-..)'5 Iookw f<r is tItII die)' must h.1\ot IIrl IIg<!t'I:.')' ~ I WUClllre in pluoe. III nUJilOr !heir p..-rform:.un all'" liE ...1ivitics ~ dlis coopo:!Ihl: • That is 0I1e 0( die COII~ dun~ ....'1: 111",-..)'5 look out for wtli.'fl we: ....1II'd III piIfblcf ....'llh die SlllIeg<J\'cmmcnl. \\ehal'COOnea linlebit .... ith tho: I....agotSblcgovemment an.! still in ~ .......1 dlCln an uus asp:cI;' he:

.....

"'filM

FXJd:cts

~

0(

pro-

d1.1l ...."< un: iIoinS, We would nIlo I~ 10 partnt:r with sant:tJun: that is We nul gr.ulUllCS

m.1.fr

b:gm~iptrolinin&in

(JUfUlU\'CrU)'curr.:::uJunI~

one thlng is 10 !.:am dlC IICCkrna IUd WlOdIer IS ItJ k:um dli: c:mqrencur..hip:·!'e IdbJ.. l ie .said ::m a....-r..ge gr.IJulII: kmws ubaut azricullUlC but doa rot know if as a bJwGS main· laining dliJl .... iIh cntn:pn:flC:unrup cunio~WII. it will C/1'P"':"'I!!" the

gr.du;;&e ..... ilhthcla:hnic::alkrl;r..\'how 10 gi) about his I:tIsinc:M.

":"10. if~1lt l:;appms wlllm:"' 9'~ it!

c=.l:' . . .

CNn.pn;:oa!IShip

IhI:)

.... e 1.1\'.., 1be1CC11fIicIII Ln,r,o.·-ht)\O IOsel uptho:irOYo'TI fIlr1/ls.lDI~ ~ Ibh rafms.• He iaiU $II~ scale famu: ~CM'em:lS'~bcc:au.5io

!heIo.:ai.<t:l1:gr'o'alIl~,'l/II usw~ <r tirmm;. 00IIpIT.II

1I1'C$IOc:JblRaxf1l/i:inct. .... n li! gGilO.! probtell\olug.ri

ruin re in Ihil> countl)' 1) tIU .....t

hall: ru rn:dJilIlIiCIJ our (linn l1li, ...~dolKlll usehijl:I)lddoiwlit our l.w.nion p:r tx..~ is f.a:

klW>r ~1OIIl dIC ~ilnaIlIVa'

uge. In India. thc se.:d5 dlC,¥ WI WI: ;ci.::ck:d,

and die fcrtili>cn

!tIC) Uie 1l/e 00I1lflllliblc .....111 .... IQI. dq _It 10 crow if with Until ....tbo:g.inlO~OUI

(arrr.s ......e W'.u1I ~ fOOl: so.--u.it),." h: iW. Tnis IS why ~ came up .....id ;II tr.. .:IOI'lS.1Iioo Ic:aie progr:ifIUIil in partnaship ....ith Tr.I(.'IOI Q\o' IoOl imd ()prc:nli.lr ASiI.r.:i...lioo

of

Ni!,.'CI'u

(TOOAN) wid 1\,'1\\: uOOcu\'V..' III WIlb a ~)Ille w~ ....'C 111\

ruyialllf'a1OIS 10 lease. 10 f;om) os.. We RttNIy disbJn;a.I 11 IIloII;:kn

il KaIbia t:c.t wOrd: . ....Y

an: looking at Iinancu18 :tbou It))) 1f'.It1ln ~ ....'C t-:1ic-., that .1In: IlnIc ~ ::Ill: tIc'C

and Ihcy an: put 10 \be, it ...iU II along v.'3y 10 1IIC.c:apiruJtunl so:lilr;'ilC.odkd. M'{uuwllOllll»oilOWyl If'.ld<lrorIc:aso:OIE~''''l.' art po.-u,& it 10 Tr..lCO' o....~ ~ of Nig.::na (Tt1\N ..... ho .....iII be:. rentll& iI 011: to fimI I5$. Wc:bd~

do UUS:&l; :. ~. IlI'&poinI., will takcotrall ltv: bur·

tkf!./&:\'O)'

fann:r tIllIsa)'S dE)

do not M'C 1I'..am; 10 go IllIC 1I1Cd~ foltTOll'l;'he~.

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Bringing Global Standards to the - Nigerian Animal Feed MarketFaIWlili CIdaI:I:

~1_ E9t""""""""h.~'U"'bdaL WfRW!Wt4~~NKl!?S!?Wtl K ......

twJWi'W'·IAI12UU1iDuMl5 f5 n&18.

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THISDAY, 30 AUGUST, 2011