CBN, NIRSAL: Boosting Agric Financing
Jennifer Daniel Before the coming on board of the present leadership of the Central Bank of Nigeria (CBN) headed by Mr. Godwin Emefiele, banks hardly lend to farmers, particularly, small holder farmers. In fact lending to the Agricultural sector at the time was like throwing the money away because it was perceived as a high risk area. As a result, lending to the agric sector was a paltry 1.4 per cent of the country’s total lending. This is far below the lending ratios that apply in other high performing developing countries such as Brazil, Mali and Burkina Faso that lend over 10 per cent to...
Source: thisdaylive.com
