• Latest
  • Trending
  • All
  • LATEST NEWS
  • SPONSORED POSTS
  • BANKING
  • Cryptocurrency
  • Job Past Questions
  • PRICE WATCH
  • VIEW POINT
  • ECONOMY
  • Careers
  • Press Release
  • Breaking News
  • education news
  • Personal Finance
  • Networth
Sterling bank

Sterling Bank, StearsData releases comprehensive agric industry report

June 23, 2021
A Comprehensive Guide to the European Union Blue Card

Unlocking Opportunities: A Comprehensive Guide to the European Union Blue Card

August 31, 2024
Naira Redesign Policy Causes Banks' Deposits with CBN to Plummet by 95.82%

Currency in Circulation hits all-time-high Fueling Inflationary Pressures

August 29, 2024
Ecobank Nigeria Launches Oja Oge Pop up Marketplace to Empower SMEs

Ecobank Nigeria Launches Oja Oge Pop-up Marketplace to Empower SMEs

August 28, 2024
inflation Push Over 31 Million Nigerians into Acute Food Shortage

Insecurity and Economic Woes Push Millions of Nigerians into Acute Food Crisis

August 28, 2024
NAFDAC Cracks Down on Use of Unapproved Saccharine in Bread Production

NAFDAC Cracks Down on Use of Unapproved Saccharine in Bread Production

August 27, 2024
Food Prices in Nigeria Soar in July 2024

Food Prices in Nigeria Soar in July 2024: Beans, Eggs, and Yam Lead the Surge

August 27, 2024
Fed Rate Cuts Could Offer Respite for Nigeria’s Naira and Economy

Fed Rate Cuts Could Offer Respite for Nigeria’s Naira and Economy

August 27, 2024
Nigeria's Manufacturing Sector Struggles in Q2 2024

Nigeria’s Manufacturing Sector Struggles in Q2 2024: Growth Slows Amid Economic Challenges

August 27, 2024
Nigeria's Agricultural Sector Shows Modest Growth in Q2 2024

Nigeria’s Agricultural Sector Shows Modest Growth in Q2 2024: Crop Production Remains Key Driver

August 27, 2024
Nigeria's Economy Grows by 3.19% in Q2 2024

Nigeria’s Economy Grows by 3.19% in Q2 2024: Services and Industry Lead the Charge

August 27, 2024
States Share $71 Billion in Seven Years, But Poverty Persists

States Share $71 Billion in Seven Years, But Poverty Persists: What’s Going Wrong in Nigeria?

August 26, 2024
Interest Rate Hikes, Inflation Squeeze Profit Margins for Nigerian Paint Manufacturers

Interest Rate Hikes, Inflation Squeeze Profit Margins for Nigerian Paint Manufacturers

August 26, 2024
  • About
  • Privacy Policy
  • Terms of Use
  • Feedback
  • Advertise
Sunday, June 15, 2025
  • Login
Financial Watch
  • HOME
  • Banking
  • ECONOMY
  • VIEW POINT
  • PRICE WATCH
  • CRYPTO WATCH
No Result
View All Result
  • HOME
  • Banking
  • ECONOMY
  • VIEW POINT
  • PRICE WATCH
  • CRYPTO WATCH
No Result
View All Result
Financial Watch
No Result
View All Result
Home BANKING

Sterling Bank, StearsData releases comprehensive agric industry report

by Sam Gabriel
June 23, 2021
in BANKING
0
Sterling bank

Sterling bank

494
SHARES
1.4k
VIEWS
Share on FacebookShare on Twitter

Sterling Bank, StearsData releases comprehensive agric industry report – Sterling Bank Plc and StearsData have released an in-depth report for the agriculture sector in Nigeria.

The report entitled: Agriculture Industry Report 2021 provides up-to-date view of the challenges and opportunities in Nigeria’s agriculture sector in a COVID-19 era.

The four-part report critically examines the country’s agriculture value chain state, state of affairs post-COVID-19, the climate change challenge and opportunities for innovations and investments.

Group Head, Agric Finance and Solid Mineral, Sterling Bank Plc, Bukola Awosanya said the industry report empowers players in the agriculture sector with a navigation roadmap.

According to her, the report also affirms Sterling Bank’s commitment to de-risking and making the domestic agriculture value chain more viable for commercial lending.

“The goal of the report is to help investors and operators understand the challenges facing the sector, consider recommendations by experts, and become aware of relevant opportunities, both now and in the future. It would empower them to support policymakers to craft policies that would create the enabling environment that the sector needs to thrive,” Awosanya said.

She outlined that the industry report is a continuum of the bank’s annual Agriculture Summit Africa (ASA) held for three consecutive years since 2018 noting that it supports the bank’s goal of creating a pathway for lending to farmers and other value chain players without intervention funds, making it possible for the federal government to free up funds allocated to subsidising the sector to other industries.

She said the first part of the report provided an overview of the agricultural value chain and analysed some of the conditions that led to the sector’s underdeveloped state.

While the second part reviewed the impact of the COVID-19 pandemic on the country’s agriculture sector, response to the pandemic, and lessons learnt from other countries on the need to build a more resilient agricultural sector.

The third part explored how climate change impacts the sector, highlighting ways stakeholders can overcome the challenge. And the fourth part of the report explored opportunities for innovation and investments and how recent innovation is transforming the industry.

Chief Economist, Stears, Michael Famoroti said the Agriculture Industry Report 2021 provides insights and actionable recommendations for future-proofing the sector from severe disruptions such as the pandemic.

He added that the recommendations are essential for all stakeholders and a valuable resource for building a resilient and commercially viable industry.

In the main, the report  powered by Sterling Bank and StearsData shows that the agricultural sector is operating below its potential, “even by its standards.” It identified the inefficiencies that slowed and crippled the growth of the sector.

The industry report indicated that continued reliance on trade restrictions as a primary tool for stimulating local production would lead to greater market instability. It will undermine supply and expose consumers to significant price fluctuations, making food security elusive as population growth puts more pressure on food resources.

COVID-19 and its attendant shock, according to the report, makes an agricultural sector that is more resilient to shocks an imperative. More importantly, the effects of climate change which continue to pose a real long-term threat.

It, therefore, advocated improved production methods that are more efficient and sustainable, investing in large scale storage so that national reserves are sufficient in times of crisis or implementing a public sector framework such that issues that concern the sector can be assessed by the appropriate bodies and a coordinated response is pushed out in a timely manner.

The Agriculture Industry Report 2021 also advised policymakers to protect the blossoming innovation ecosystem in the sector with consistent policies and collaborate to foster growth. It suggested a value chain approach so critical links are not ignored when designing solutions for the sector.

It said, “As Nigeria inches out of another recession, there is no better time to take steps that support its resolute claims that the performance of its agriculture sector is key to its long-term growth.”

Share198Tweet124
Previous Post

SEC issues first license for digital stock trading in Nigeria

Next Post

Andy Uba threatens to sue Heritage Bank over staff’s protest

Sam Gabriel

Sam Gabriel

Samson Gabriel a graduate of mass communication from Auchi Polytechnic, he is a passionate writer with experience in radio scrip writing. He brings his experience from the broadcast media into play here as he continues to enjoy his passion as a journalist. He can be contacted via whats-app on: +234701105670

Next Post
Andy Uba threatens to sue Heritage Bank over staffs protest

Andy Uba threatens to sue Heritage Bank over staff’s protest

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • Trending
  • Comments
  • Latest
Stanbic IBTC launches Africa-China Agent Value Proposition

List of Stanbic IBTC bank Routing Number, sort codes and branches in Nigeria

May 2, 2023
Banks Employ More Contract Staff as full staff continue to dwindle

Nigerian bank employee grades and levels

June 14, 2021
N-power Portal Login npvn.npower.gov.ng/login 2020/2021 – Update Your Account

N-power Portal Login npvn.npower.gov.ng/login 2020/2021 – Update Your Account

November 17, 2020
Zenith Bank2

List of Zenith bank Routing Number, sort codes and branches in Nigeria

May 2, 2023
Union Bank2

List of Union bank Routing Number, sort codes and branches in Nigeria

May 2, 2023
How buy 2019 JAMB 2019 UTME form/ registration PIN online

UTME result: How to Check JAMB Result 2022 – Jamb Result Checker

1333
JAMB Result checker 2020 out | www jamb org ng result checker

Utme 2021: Check JAMB Results Using JAMB Registration Number

1146
List of JAMB Approved CBT Centres In Abia State 2020/2021 | Abia State Jamb Cbt Centres

Jamb Portal 2021: How to check Jamb Results – jamb.org.ng/efacility

523
P Yes registration

www.p-yes.gov.ng – Register For P-YES Progeamme Portal – Apply Now

436
Breaking: JAMB releases more 15,490 UTME results

JAMB Results 2021 Online Checking Steps | www.jamb.org.ng Result

316
A Comprehensive Guide to the European Union Blue Card

Unlocking Opportunities: A Comprehensive Guide to the European Union Blue Card

August 31, 2024
Naira Redesign Policy Causes Banks' Deposits with CBN to Plummet by 95.82%

Currency in Circulation hits all-time-high Fueling Inflationary Pressures

August 29, 2024
Ecobank Nigeria Launches Oja Oge Pop up Marketplace to Empower SMEs

Ecobank Nigeria Launches Oja Oge Pop-up Marketplace to Empower SMEs

August 28, 2024
inflation Push Over 31 Million Nigerians into Acute Food Shortage

Insecurity and Economic Woes Push Millions of Nigerians into Acute Food Crisis

August 28, 2024
NAFDAC Cracks Down on Use of Unapproved Saccharine in Bread Production

NAFDAC Cracks Down on Use of Unapproved Saccharine in Bread Production

August 27, 2024
Financial Watch

Copyright © 2023 Financial Watch.

Navigate Site

  • About
  • Privacy Policy
  • Terms of Use
  • Feedback
  • Advertise

Follow Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • HOME
  • Banking
  • ECONOMY
  • VIEW POINT
  • PRICE WATCH
  • CRYPTO WATCH

Copyright © 2023 Financial Watch.