CBN Seeks Increased Private Sector Investment In Dairy Production

The Central of Bank of Nigeria (CBN) is seeking increased private sector participation in dairy to position the industry for growth.

A representative of the apex bank, Garba Aminu, spoke during the opening of a Milk Collection Centre (MCC) in Kano, established by Outspan Nigeria Limited, the dairy business unit of Olam Food Ingredients (OFI).

He reiterated that the bank would support investors to help dairy processors meet growing demand for local milk products.

Aminu emphasised CBN’s commitment to assisting businesses and smallholder farmers to fast-track the attainment of food production self-sufficiency in the country.

Also, the Doguwa communities where the project is sited lauded Outspan Nigeria Limited, for its investment in the area, targeted at achieving large-scale development of the local dairy value chain.

Representatives of the communities under the local government area said the investment would stimulate a robust local economy, create linkages for smallholder dairy farmers and generate jobs in the area.

The Chairman, Doguwa Local Government Council, Mamuda Hudu, said: “Outspan Nigeria Limited is making an impactful investment in our communities by building a milk collection centre in Doguwa LGA. The collection centre will enhance the economic activities of our local dairy farmers and help our young people get jobs in the dairy value chain.’’

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