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Skye Bank’s Contribution to Nigeria’s Agricultural Sector Jumps to 10%

Financial Watch - May 13, 2016

Skye Bank Plc‘s Agricultural Portfolio has reached about 10 per cent from five per cent about two years ago.
The Group Managing Director/Chief Executive Officer, Timothy Oguntayo who disclosed this, said agriculture comprised a significant portion of the bank’s portfolio.
Oguntayo 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 newsmen 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 agricultural scheme with focus on rice and cassava production.
He said: “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.


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