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AGRIC BUSINESS

Mainstreet Bank Commits N10bn on Fertilizer Distribution

Mainstreet Bank has committed N10 billion to the funding of fertilizer distribution through agro dealers in Nigeria.

The Managing Director of the Bank, Faith Tuedor-Matthews,said the commitment is a feat acknowledged by beneficiaries and stakeholders as the highest funding intervention by any bank participating in the scheme.

Relieving Mainstreet Bank’s success story during the GESS breakout session at the just concluded Nigerian Economic Summit Group (NESG) held at Transcorp Hilton Hotel Abuja, the GMD noted that Mainstreet Bank’s successful intervention in the procurement and distribution of fertilizer has impacted about one million real farmers in Nigeria.

She lauded the federal government’s Agricultural Transformation Agenda in introducing the Growth Enhancement Support Scheme (GESS), acknowledging that GESS has offered an effective framework for supporting small farmers who are the ultimate drivers of food production and agricultural development in Nigeria.

She further stated that following the success achieved in the GESS scheme, Mainstreet Bank is developing a project initiative in partnership with willing state governments to support funding of primary production activities in some key crops like: rice, sorghum, cassava, cotton, soya beans, and maize.

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