NGSG Signs Multi billion naira MOU with Union Bank on Agriculture.
By : Sadiq Baba Musa.
Niger State Government has entered into a N50 billion worth of Memorandum of Understanding (MoU) with Union Bank of Nigeria in the area of Agriculture.
The agreement was sealed at the Niger State Government Lodge in Abuja.
The Chairman of Niger Food Security Systems and Log Limited Mr Sammy Adigun and the Special Adviser to the Governor on Special Duties, Dr Murtala Bagana signed on behalf of the State Government while the Director, of Tropical General Investment Sadiq Kassim, signed on behalf of Union Bank.
The MoU is for the supply of sesame seeds, soya beans, maize and paddy rice by the Niger State Government, to Tropical General Investment, owners of Union Bank.
Farmer Governor Mohammed Umaru Bago who described the agreement as historic, expressed optimism that it would allow the State to create a lot of value chain from the production, cropping to processing of other agricultural produce.
He reassured that the State will meet the supply needs of the Tropical General Investment as contained in the agreement and expressed hope for a continuous partnership with the Financial Institution.
Farmer Umaru Bago disclosed that 100 Million Euros have been invested into the Sun-Farm initiative of the State Government to have greenhouses covered by solar-powered cells for sustainable farms.
Chairman, Union Bank and Executive Vice Chairman, Tropical General Investment, Alh. Farouq Gumel said the agreement with Niger State Government will help the Company meet up with global needs.
Alhaji Gumel while assuring the State Government of delivering on its side of the deal, thanked the Governor for the opportunity to pilot an idea that has been conceived for many years.
Chairman, Niger Food Security Systems and Log Limited, Sammy Adigun, said the Niger State will supply 500,000 tonnes of the four crops to Tropical Investment in the next year and one million tonnes after two years.
