Erisco Foods Limited Donates Food Items Worth Millions Of Naira To Military

Keystone Bank Limited said it has given 1700 farmer in Taraba and Sokoto states credit lines totaling N350 million as part of its efforts at boosting the Anchor Borrowers Programme of the Central Bank of Nigeria (CBN).
Managing director of Keystone Bank, Mr Philip Ikeazor, who disclosed this in Lagos, underscored the importance of financial institutions in driving the agricultural sector, saying “financial institutions have a crucial role to play in providing support to players along the agriculture value chain and the CBN’s initiative of the Anchor Borrowers Programme is a step in the right direction.

“Financing in agriculture is one factor of production, which facilitates the acquisition, procurement and management of the other factors of production such as land, expertise and management.”
According to experts in the agriculture sector, the low volume of business in the rural areas where poverty is most prevalent cannot guarantee sustainable business activities to encourage the establishment of commercial banks to provide the needed finance for agricultural production.
Moreover, the cost implication of processing agricultural loans in the rural economy makes it unattractive for conventional banks to channel their resources to farming. Although, the commercial banks finance agricultural activities but their credits are urban-based and so small that their impact cannot be felt in the rural areas where farming actually takes place.
Lack of priority attention to rural population in credit delivery by commercial and other banks in the economy contributed to the depressed economic conditions in the rural economy, and this situation also affects the overall economic growth and development of the nationThe morale of officers and men of the Nigeria military currently fighting insurgency in the north- east has been given a boost as Erisco Foods Limited has donated trailer load of food items worth millions of naira to motivate them. Presenting the food items as well as a cheque of one million naira to the widow of late Lt. Col. Abu Alli, at the Defence Headquarters Garrison, Mogadishu Cantonment, Abuja in a short ceremony, the president/CEO of Erisco Foods Limited, Chief Eric Odinaka Umeofia, disclosed that the efforts of the officers and men of the Nigerian military needs to be appreciated as he noted that no meaningful success can be achieved in an atmosphere of insecurity.
In his words, “I thank God for the opportunity of making this presentation because it is borne out of desire to encourage and motivate the officers and men of the military who have recorded huge success in the fight against Boko Haram and making sure that the country is safe and secure.” He further noted that the patriotic zeal of our military to secure the territorial integrity of the country was commendable, hence the need to boost their morale with food items that could be easily eaten while at the war front.
Continuing, Umeofia said the effort of the military would help the economic growth of the nation as export would be made easier if the insurgents were totally routed. He urged well meaning Nigerians to support the President Muhammadu Buhari Administration in its efforts to make Nigeria a great nation because no meaningful success would be achieved in an atmosphere of insecurity. “If only 10 per cent of Nigerians are as patriotic as the military and contribute their quota to national development, we will overcome all these challenges bedeviling our nation including poverty, recession and corruption. It’s our prayers that God will continue to safeguard the officers and men as they work assiduously to keep the country safe.”
In his response, Air Commodore, Olayinka Tijani, who received the food items on behalf of the Chief of Defence Staff, General Abayomi Olonisakin, expressed joy and said that they were convinced that this gesture exhibited by the Erisco Food Limited would go a long way in complimenting the military’s welfare package for the troops in the theatre of operation in the north-east.
According to Tijani, “This is most appreciated and the chief of defence staff maintains that this support has demonstrated uncommon patriotism to the nation in general and the Nigerian Military in particular.
“This act of humanitarian gesture should be emulated by other well-meaning Nigerians and corporate organisations as the government and military cannot do it alone.”
He assured the donor that the items would be delivered to those that it was meant for and that the cash donation would be presented to the widow of the deceased senior officer, Lt Col Abu Ali.
Recall that this is the third time Erisco Foods Limited would be donating food items to the military as they have in the past presented food items worth millions of naira on two occasions. and a brand new made-in-Nigeria IVM 4×4 Van to the defense authorities.
Chief Umeofia in a recent encounter disclosed that Erisco Foods was inspired to make this donation in recognition of the gallantr
With the recent focus of the federal government of Nigeria on diversification of the economy, agriculture is being promoted in many quarters as the next frontier in driving the economy of the nation. The reason is not farfetched as agriculture was the major export industry before the discovery of crude oil in the late 1950s with cocoa, groundnut, palm oil being major export products among others.
The Anchor Borrowers’ Programme, which was initiated by the CBN as a sub-shoot of the Micro, Small and Medium Enterprises Development Fund (MSMEDF) was created to support farmers and increase their production capacity. About N19billion was disbursed in the last farming season with reported 90 per cent success rate.

Source: Leadership