Aduragbemi Omiyale
By Aduragbemi Omiyale
Youths in the country who intend to go into agriculture will have access to credit facilities, the Central Bank of Nigeria (CBN) has assured.
The Governor of the CBN, Mr Godwin Emefiele, gave this assurance at the unveiling of the first maize pyramids in Nigeria as well as the commencement of the 2021 maize wet season farming under the collaboration of the Maize Association of Nigeria (MAAN) and the Anchor Borrowers’ Programme (ABP) of the CBN in Katsina State.
Speaking at the event, the apex bank chief noted that farmers would always be given priority because of the impact of agriculture on the nation’s economy.
He said in view of this, the CBN has put in place several measures to improve access to loans under the ABP and the Agri-Business Small and Medium Enterprises Investment Scheme (AGSMEIS).
The nation’s chief banker explained that this was done to encourage more youths to go into agriculture, one of the sectors being used by the federal government to improve the foreign earnings of Nigeria, especially at a time crude oil revenue is dwindling.
The CBN boss noted that the, “Impact of our monetary policy measures will be limited if we do not address some of the structural constraints that limit productivity in key sectors of our economy such as agriculture.”
He expressed delight at being able to come up with the first maize pyramids, stating that, “Maize pyramids are indeed rare, but we have been able to achieve this through synergy amongst stakeholders and the resilience of our farmers. Success is indeed infectious, and this will surely spur us to do more.”
Mr Emefiele described maize as “one of the priority crops under the ABP. This is due to the crucial role maize plays, as a major staple food item, as well as its role as a significant feedstock for the poultry industry in Nigeria.”
