The Government and Organised Private Sector (OPS) have been urged to provide more soft loans to farmers to enable them compete with their counterparts’ across the world.
   
Speaking at the official launch of AgriTech City Resort, the CEO of XtraLarge Farms and Resort, Mr. Seyi Davids, said there is need to combine agriculture with technology to improve output, while calling for more private sector participation.
   
Davids also canvassed more private sector participation in the agro-industry, as it is critical in the quest for a shift from oil to agriculture.
   
He said: “It’s important that we encourage agriculture in this part of the world. Let there be softer loans, maybe single-digit, that farmers can use. If you have to give farmers double-digit loans, how will they repay?
   
“For example, if a farmer gets a double-digit loan to plant rice, I don’t know how much he will sell the rice and still be able to repay the loan. The best we can do in this country is to make available soft loans for farmers in order to encourage agricultural business.
   
“Government, over the years, has tried its best. However, the government cannot do it all alone. We need more individuals participating in agriculture business.”
   
Explaining further on AgricTech City, Davids explained that the resort affords guests the opportunity to relax from the hustle and bustle of work.
 
He said the Agritech City offers cutting-edge technology and innovations in agriculture and will raise a generation of passionate farmers.
 
“You’ll also see things that we’re looking for in so many other states and other countries; we have here in Agritech City cold and warm springs, which we know is very therapeutic.”
 
On his part, a Development Finance expert and farmer with Xtralarge, Aderoju Owosanya, also noted the need for the government to “encourage agriculture by providing soft loans that farmers can use.”