Private firms emerge top financiers of farmers despite FG intervention funds

Despite the various intervention funds rolled out by the federal government and the Central Bank of Nigeria (CBN), private firms emerged top financiers of Nigeria’s agricultural space as credit was largely unavailable to sector players in 2020.

This was revealed by the AFEX Commodities Exchange Limited in its Annual Commodities Review where it stated that private firms emerged top credit providers with lesser input of government funds, adding that Lack of access to loans and fertilizers remained largely the biggest challenge to most farmers in 2020

“62 percent of farmers were able to access input finance from private companies in 2020, making private companies the top providers of finance to farmers among other sources like Government, Corporative etc.”

Read more: Business Day