Elabanjo Calls – By Kisean Joseph
Elabanjo Calls Banks Invest
Agricultural specialist Owolabi Elabanjo is calling on banks to invest directly in farming, saying growers currently shoulder months of production costs alone before earning a single dollar.
“I will tell you one thing from my experience so far, and even I, myself, am a farmer now,” Elabanjo said. “Farmers are subsidising their own production from day one.”
He said soft loans at interest rates of two to three per cent would allow farmers to expand operations, adopt new technology and increase output, easing the financial exposure many face while waiting on a harvest.
Elabanjo also pointed to gaps in local seed and varietal selection as a persistent weakness in production, citing the tomato industry as an example.
“What is lacking with us is the selection of our seeds,” he said, noting that Antigua has yet to source a tomato variety suited to the high temperatures of the July to October period, leaving local supply thin during those months.
He said the government has already provided meaningful support to the sector, including affordable land rental and duty-free agricultural inputs, but stressed that private investment and improved crop planning are now needed to help farmers expand and stabilise production.
