The Central Bank
Governor, Godwin Emefiele, has hinted that the Bank of Agriculture (BoA) will
be properly restructured by the Federal Government towards assisting
farmers to
boost agricultural production in the country and ensure food sufficiency.
He added that if the
restructuring is eventually done, it would help the bank to perform its primary
responsibilities well.
Emefiele, who was
part of the Presidential Task Force on Agriculture, gave the hint on Tuesday,
while fielding questions from newsmen at the Odeda Farm Institute, Odeda,
during the task force’s inspection of the facilities of the institute and some
farm centres in the state.
The Task Force,
which included the Minister of Agriculture, Chief Audu Ogbeh, and the Kebbi
State Governor, Abubakar Atiku Bagudu, was earlier conducted by the state
Governor, Senator Ibikunle Amosun, round Eriwe Fish Farm in Ijebu-Ode,
Greenhouse Technology Centre, Kotopo in Abeokuta and Owowo Farm Settlement in
Ewekoro Local Government Area.
The CBN governor
explained that the team was mandated by the President to go round the entire
federation on a fact-finding mission on how to resuscitate some of the age-long
agricultural potentials of the country.
He added that the
President specifically tasked the team to situate how to ensure increase in the
production of cassava, maize and resuscitate cocoa production in the
South-west, emphasising maize production will support the poultry productivity
in the South Western part of the country.
He said: “For us to
go round the entire federation, not just about rice, tomatoes, millet, but also
about coming down South. What can we do to resuscitate some of our age-long
agricultural potential. I see here a dam; I understand there are 11 dams in
this state and in this facility, you have the facilities that were developed in
the First Republic that have become moribund because they were abandoned.
“But I can assure
you that the farm can be resuscitated. We can get nine season farming for maize
particularly. And in the South Western part of the country, the mandate the
President has given is that for the South West, we must situate how to get back
in ensuring that we increase the production of cassava, maize and go back again
into cocoa production, so that with maize you can support poultry production in
the South Western part of the country.
Emefiele, however,
disclosed that CBN, under its Commercial Agricultural Credit Scheme, has over
N250billion which has not been fully disbursed as well as N220b Micro and Small
and Medium Enterprise Loan Scheme, with just N80billion utilised so far.
“We are going to see
to how small holder farmers can benefit from our anchor borrower programme
through the micro, small and medium enterprise. And for the states, when we
find the state that is serious and ready to work with us, we burst the commercial
agricultural credit scheme facility that we have because the President has
mandated that those who are serious, we must support. That is the essence of
this”, The CBN governor added.
Also speaking,
Minister of Agriculture, Chief Audu Ogbeh, noted agriculture remains the only
solution to economic recovery adding “we are collecting data and next year
budget is a bit more sizeable than before. You will see evidence here very
quickly”.
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