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Emefiele explains why CBN undertakes intervention schemes in agriculture
The Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, has said that the agricultural sector is a boom for the dwindling Nigerian economy, stressing that the initiative of the Central Bank in the sector had contributed meaningfully to the welfare of Nigerians.
Emefiele disclosed this while speaking with newsmen during an inspection tour of the palm plantation located at Odighi village in Ovia North East Local Government Area of Edo state over the weekend, adding that the initiative put in place by the Central Bank of Nigeria to revamp agricultural sector would mitigate the effects of rising cost of food items.
The Governor expressed joy over the laudable efforts made in the production of maize and cassava in the palm plantation, adding that the CBN’s different intervention programmes had helped small holder farmers in more ways.
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“Those small holder farmers benefitted from Anchor Borrowers Programme and other intervention schemes. They can now cultivate and produce enough for their families and sell produce as loan repayment with ease, thereby generating employment, improve living standards and creating wealth simultaneously.”
Emefiele also lauded the efforts of Agro-Allied Resources and Processing Limited under Tolarm Limited for locally sourcing their raw materials, saying that the CBN was always committed to helping farmers in order to better the country.
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