FG Urges BoI to Support the Agricultural Sector

 The Minister of Agriculture and Rural Development, Chief Audu Ogbeh on Wednesday has called on the BoI (Bank of Industry) to increase lending to the agricultural sector of Nigeria, so that the level of unemployment would be reduced.
 The Minister said this during a meeting with the management team  of BoI which was led by the BoI's  Managing Director, Mr. Waheed Olagunju.
 Chief Ogbeh said "I will like to request your bank to see what you can do to assist us in financing young people in agro-processing business. We have been running a system in the commercial banking sector where the door was almost shut to beginners and I don't want to go into detail of how interest rate has remained high for 30 years between 1986 and now."
 "Young people are finding it difficult to access loan. If we want young people to live and achieve their aspiration, we need to do what we can to shift the focus by creating a platform for them to access loan to become entrepreneurs."
 He also added that government would ensure that there would be adequate mechanism as well as support to ensure that the loans are repaid by the borrowers.
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