CBN’s N55billion In Agricultural Sector Provides One Million Jobs

The Central Bank of Nigeria (CBN)’s implementation of the Anchors Borrowers Programme has allegedly created over a million jobs in country.

According to reports, this was achieved in two years with the disbursement of N55.53 billion.

Besides, the programme, which is in partnership with state governments and several private sector groups, aided the disbursements to over 250,000 farmers, who cultivated almost 300,000 hectares of farmland for rice, wheat, maize, cotton, soybeans, cassava, among others.

CBN Governor, Godwin Emefiele, who made the disclosure when he performed the groundbreaking ceremony for the construction of  Greenfield  Integrated Poultry Facility, alongside Ondo State Governor, Rotimi Akeredolu, in Emure-Ile, said the current attention to agriculture is by no means a bad strategy.

Meanwhile, Emefiele while showing gratitude for awards won over the weekend said;

“Agriculture can still be used as a key catalyst for creating jobs, reducing unemployment and driving growth in Nigeria”‘ adding that in 2003, when importation of chickens was banned, with the exception of day old chickens, the policy served as a major fillip for the poultry industry.He said that ABP is designed to support smallholder farmers by providing them with the requisite training, tools and funds at single digit interest rates, to improve cultivation of key agricultural items such as maize, soybeans, rice, cotton and wheat.

The programme also provides a ready market for farmers by linking them with credible off takers and processors of their produce.  “With the commencement of the Greenfield Integrated Poultry Facility, we expect that the implementation of the Anchor Borrowers’ Programme in the State will be tremendously expanded. This will surely go a long way in providing needed inputs for the facility.

“Today, some analysts have put the Nigerian poultry industry to be worth about N1.2 trillion, comprising about 165 million birds, which produces over 650,000Metric Tonnes of eggs… making Nigeria the largest producer of eggs in Africa.

“Despite this huge success in the sub-sector, statistics from Eurostat, however highlight that between 2009 and 2011, over three million Metric Tonnes of poultry products were imported into the Republic of Benin, and eventually smuggled into Nigeria.

“This means that despite the huge domestic production, we are still far behind meeting our local consumption needs for poultry products. It is no wonder that Greenfield Assets Limited and ONDIPA have decided to fill this gap with the investment we are witnessing today,” he said.
The state Governor, Akeredolu, said his leadership will remain a beacon of hope to many of its citizens, as efforts are well on track towards being a major food basket in Nigeria, as well as fulfill its promises.He also raised the hope of continuing to provide the enabling environment towards attracting increased investment in the state, a drive that has made it possible for the current investment by Greenfield.

The Chief Executive Officer of Greenfield Limited, Dr. Paul Obanua, explained that the facility comprises a pasteurised liquid and powder egg processing plants; 200,000 Commercial Rearing Capacity; 600,000 Commercial Layers; Egg Grading and Packing Centre; a state of the art Feed Mill; and modern Broiler Processing Operation. He assured that the completion of the first phase construction will be due in just one year, marking the take off of the production.