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CBN Intervention Fund Not Tilted – Emefiele

The Governor of the Central Bank of Nigerian, Godwin Emefiele, has faulted claims suggesting that the Bank’s targeted interventions in the agricultural sector are tilted in favor of a certain section of the country.

Emefiele pushed for more private sector investment in Nigeria’s agricultural value chain. #ABP #ricepyramids

He urged farmers to repay loans promptly to ensure sustenance of Anchor Borrowers’ Programme (ABP).

Emefiele: “The CBN is positioned to ensure the integration of our farmers into the Government’s Economic Sustainability Program, aimed at providing 5 million homes with electricity using solar energy”

“We believe significant improvements in domestic production of staple food items, would help in attaining our price stability goals while reducing our dependence on imported food items”

CBN finances 3,107,890 farmers for the cultivation of 3,801,397 hectares across 21 commodities through 23 Participating Financial Institutions in the 36 States of the Federation and FCT.

Nigerian youths have the talent, energy, enthusiasm, technological adoption capacity and drive to revolutionize agricultural production in Nigeria.

CBN plans minimum 1 million hectares of rice through a combination of RIFAN farmers and prime/private anchors for each planting season in 2021.

Revamped Nigeria Commodity Exchange (NCX) to commence operation by the 4th quarter of 2021.

Emefiele said attaining food sufficiency in food production will not come cheap.

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