…Targets 3,700 NLCL Members
An agriculture and financing company, Trevari Group, has signed a Memorandum of Understanding with the Nigerian Legion Cooperative Society Limited on agribusiness.
Under the agreement, Trevari will support 3,700 members of the NLCL in the first phase towards accessing the various government empowerment schemes including the Central Bank of Nigeria’s Agricultural Credit Guarantee Scheme and the Anchor Borrower Schemeý. A statement by the Trevari Group quoted the company’s Executive Vice-Chairman, Mr. Innocent Obande, as saying that the firm intended to provide support to 3,700 members of the NLCL in the first phase while the beneficiaries would also be empowered to employ at least additional 7,400 active poor Nigerians.
Obande disclosed that the company would provide tractors, green house equipment and other farming inputs at subsidised rate to members of the NLCL nationwide.
“Trevari Group is also providing technical expertise and personnel for the operation and management of the proposed agro scheme to be established by the NLCL,” he added.
He called for the establishment of product specific microfinance banks in communities across the country to finance rural agricultural development.
He said, “Beyond advancing money to the farmers, the microfinance banks should have agric department that will be saddled with various functions, ranging from agric extension services to monitoring of utilisation of funds, hiring of tractors/implements, and sales of improved seedlings and fertilisers to farmers.”
The NLCL Secretary, Eloma Ikona, said that the efforts of Trevari Group to empower members of the cooperative as part of the renewed measures to raise agriculture sectorý’s contribution to the country’s Gross Domestic Product were laudable.
He added the agricultural sector remained the best opportunity for the Federal Government to create jobs and wealth, in view of the declining oil prices and revenue.