CBN seeks increased private sector investment in dairy

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

A representative of the apex bank, Garba Aminu, who 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), reiterated  that the bank would support investors to  help   dairy processors   meet  growing demand for local  milk products.

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

Also the Doguwa communities where the project is sited  applauded Outspan Nigeria Limited, for its expansive 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,  was delighted by the prospect of local dairy farmers and the women in the area gaining access to new markets and opportunities to sell their milk to large industrial off-takers instead of trekking to distant towns to peddle their products.

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