Nigeria Grain, Cassava, Cotton farmers get N55.5 Billion-CBN

The Central Bank of Nigeria (CBN), in partnership with some State Governments and several private sector groups, has disbursed over fifty-five point five billion naira to over two hundred and fifty farmers, who cultivated about three hundred thousand hectares of farmland for rice, wheat, maize, cotton, soybeans, cassava among others.

Speaking at the Out-Grower Programme in Akure, Ondo State, Governor of CBN, Godwin Emefiele says the apex bank remains committed to working with the State Governments to support small-holder farmers and processors across other items like poultry products, where the country has the potential to generate about 1.2 trillion naira annually.

Despite huge domestic production of poultry products in Nigeria, the country is still far behind meeting its local consumption needs. Over three million Metric Tonnes of poultry products are exported into neighbouring Republic of Benin and eventually smuggled back into the country.

At the ground breaking ceremony of an egg production plant in Emure-Ile, Owo Local Government Area of Ondo State, Emefiele says the situation can be reduced through public-private sector partnership.

Emefiele says implementing the Anchor Borrowers’ Programme in Ondo state will expand production of poultry products in the country.

“We will kick-start this month. We will help this programme drive economic growth, reduce unemployment and increase digital cohesion” Emefiele says

The state governor, Rotimi Akeredolu, expressed readiness of his government for timely completion of the project. He says time has come to stop over-dependency on oil for survival of the nation’s economy.

“I have promise from greenfield as to what jobs will be created in this industry. We are going to have large scale post-farming here.”

Two years into its implementation, the programme has contributed to the creation of an estimated eight hundred and ninety thousand direct and two point six million indirect jobs.

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