CBN Approves N3b For Anambra Farmers, SMEs

November 6, 2016


By Modupe Gbadeyanka

In a bid to boost the economy of Anambra State, the Central bank of Nigeria (CBN) has given the state a grant of N3 billion.

This money is expected to be invested in the agriculture and SMEs and shared to medium and small scale entrepreneurs and farmers in Anambra State to support their businesses.

Speaking on Friday at the flag-off of training for the first batch of 150 youths at the Federal Youths Training Centre in Mgbakwu near Awka, the state capital, Governor Willie Obiano noted that the apex bank approved the N3 billion following the effective use of a similar grant of N1.5 billion to agriculture in 2015.

According to Mr Obiano, individuals should acquire marketable skills and engage in agriculture as these were the best options that could put the economy on the path to prosperity at this moment of recession and inflation.

He promised successful youths from the free training scheme would be given a maximum take-off package of N500,000.

The Governor hailed the state for doing well in the area of agriculture, noting that 30 trailers of rice and 100 trucks of vegetables were being moved out of the state on a daily basis.

Mr Obiano said, “We have to pump money into the economy and not the other way round; that is what we are doing through our investment in agriculture and empowerment off these youths in contemporary skills.

“This Federal Youth Centre will continue to get our attention, it had been abandoned since 2008, but we have revived it and are determined to make it effective. Every year, we shall have over 1,000 youths trained and empowered here.”

Dipo Olowookere

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan.

Mr Olowookere can be reached via [email protected]

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