CBN, Nigerian governors ‘agree to develop agric sector’ – Official

The Central Bank of Nigeria (CBN) and governors of the 36 states of the federation on Thursday agreed to pool resources to develop the agricultural potentials in their domains and create jobs.

At a meeting in Abuja attended by the governors, the CBN governor, Godwin Emefiele, said the collaboration with the governors was a continuation of the apex bank’s efforts to enhance the country’s agricultural development.

Mr Emefiele said the CBN was focused on boosting the production of identified agricultural commodities in the states, particularly those with high growth enhancement impact, create jobs, improve capacity of industries, and conserve foreign exchange for the country.

The CBN governor said following President Muhammadu Buhari’s directives, the bank has identified ten key commodities in the states as key enterprises to be developed along the value chain to achieve the stated objectives.

The commodities include rice, cotton, oil palm, tomato, cassava, poultry, fish, maize, cocoa and livestock and dairy products.

Noting the substantial progress recorded in the past three months, Mr Emefiele said there was the need to interact more with the state governors to sustain the momentum.

“The ultimate objective is to make our states economically viable through enhanced investments by the private sector to create more economic opportunities at the sub-national level, engage our teeming youths in meaningful enterprises, improve internally revenue base for states to meet the developmental expectation of its citizens,” he said.

“This is in addition to what we (CBN) are doing through Anchor Borrowers Programme to support small holder farms in our rural communities,” he added.


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