Post by Ismail AbdulAzeez on Nov 18, 2021 9:21:32 GMT 1
The Central Bank Of Nigeria (CBN) Has Said That The Nation’s Food Import Bill Dropped From $3.40 To $0.56 Billion From 2014 - 2018
At a recent One-day stakeholders’ Sensitization Workshop on the National Agricultural Sample Census in Abuja, the Federal Government of Nigeria has said that the food import bill of the nation has drastically reduced from $3.40 billion it was in 2014 to $0.56 billion by 2018. This change amounts to a reduction of over 80% over this period.
Speaking at the occasion, the Governor of the Central Bank of Nigeria (CBN) Dr. Godwin Emefiele said that the feat was possible due to interventions that the government carried out on the agricultural sector.
He enumerated the interventions to include the following:
Anchor Borrowers Programme (ABP)
Commercial Agriculture Credit Scheme (CACS)
Accelerated Agricultural Development Scheme (AADS)
Private Sector-led Accelerated Agricultural Development Scheme (P-AADS)
Maize Aggregation Scheme (MAS)
Paddy Aggregation Scheme (PAS), and
Rice Distribution Facility (RDF)
According to the CBN Governor, the bank’s flagship programme in the agricultural sector is the Anchor Borrowers Programme (ABP); this programme has become a game changer in the economy. It has consistently been used in financing smallholder farmers who are at the forefront on the Federal Governments drive for food security and self-sufficiency.
The Governor said “As you are all aware, the programme was designed to serve as an economic link between smallholder farmers and anchors (agro-processors and manufacturers) that provide quality inputs and training in the best farming practices to ensure high yield.”
The Governor was represented by Dr. Olabinto Adebowale, also noted that the Anchor Borrowers’ Programme (ABP) has supported about 4 million smallholder farmers that cultivated more than 4.9 million hectares of 21 agricultural commodities across the country.
He said “The positive impact of the ABP on the agrarian communities is evident for all to see. The programme has led to a significant increase in the incomes of smallholder farmers in these communities, and it brought hope to the farming population through timely delivery of agricultural inputs and linkage to a guaranteed off take market-determined prices.”
During her own speech, the Minister of Finance, Budget and National Planning, Mrs. Zainab Shamsuna Ahmed, revealed that agricultural sector is one of the most important sectors in Nigeria; it represents approximately 24% of the nation’s economy and employing more than 50% of the workforce, directly and indirectly.
“The sector is not only vital for economic output and employment purposes, but more importantly, it is an essential part of the societal culture. The importance of this sector, more than ever before, has been demonstrated by the administration of President Muhammadu Buhari, through the heavy investments channeled into it since 2015. The aim of these investments is to increase output in the entire value chain to meet the nation’s demand for food, employment and export earnings.
“It is as a result of government’s heavy investment and attention to this sector that during the recession brought about by Covid-19 pandemic, and the security challenges being encountered in some parts of the country, the sector consistently recorded positive Gross Domestic Product (GDP) numbers.” She explained.
Also the Statistician General, National Bureau of Statistics (NBS), Dr. Simon Harry, said that the National Agricultural Sample Census (NASC) is designed to produce vital primary data on the structural composition and operations of the sector.
“On completion of the census, the results will also form a statistical framework for the conduct of subsequent agricultural surveys in the country, capturing all aspects, including crop production, livestock, poultry, fishery and forestry,” he said.
In a bid to encourage all calibers of farmers in the country, the CBN Governor, Dr. Godwin Emefiele, urged bandits and all those living and hiding in the bushes to lay down arms and embrace the bank’s Anchor Borrowers’ Programme.
The Governor explained that while the government is doing all it could to stimulate economic growth; insecurity has remained a clog in the wheel of progress of the bank’s transformation programmes such as the Anchor Borrowers Programme.
We are all living witnesses to the great success achieved by all the investment programmes carried out by the present government. If you go into our markets today, you will see different types of made in Nigeria rice displayed; this is an evidence of the success of the initiative of the government.
Better days are coming in the agricultural sector. Contact us for your training in agro-exports. We conduct trainings both in exports and imports; contact our admin for more information.
At a recent One-day stakeholders’ Sensitization Workshop on the National Agricultural Sample Census in Abuja, the Federal Government of Nigeria has said that the food import bill of the nation has drastically reduced from $3.40 billion it was in 2014 to $0.56 billion by 2018. This change amounts to a reduction of over 80% over this period.
Speaking at the occasion, the Governor of the Central Bank of Nigeria (CBN) Dr. Godwin Emefiele said that the feat was possible due to interventions that the government carried out on the agricultural sector.
He enumerated the interventions to include the following:
Anchor Borrowers Programme (ABP)
Commercial Agriculture Credit Scheme (CACS)
Accelerated Agricultural Development Scheme (AADS)
Private Sector-led Accelerated Agricultural Development Scheme (P-AADS)
Maize Aggregation Scheme (MAS)
Paddy Aggregation Scheme (PAS), and
Rice Distribution Facility (RDF)
According to the CBN Governor, the bank’s flagship programme in the agricultural sector is the Anchor Borrowers Programme (ABP); this programme has become a game changer in the economy. It has consistently been used in financing smallholder farmers who are at the forefront on the Federal Governments drive for food security and self-sufficiency.
The Governor said “As you are all aware, the programme was designed to serve as an economic link between smallholder farmers and anchors (agro-processors and manufacturers) that provide quality inputs and training in the best farming practices to ensure high yield.”
The Governor was represented by Dr. Olabinto Adebowale, also noted that the Anchor Borrowers’ Programme (ABP) has supported about 4 million smallholder farmers that cultivated more than 4.9 million hectares of 21 agricultural commodities across the country.
He said “The positive impact of the ABP on the agrarian communities is evident for all to see. The programme has led to a significant increase in the incomes of smallholder farmers in these communities, and it brought hope to the farming population through timely delivery of agricultural inputs and linkage to a guaranteed off take market-determined prices.”
During her own speech, the Minister of Finance, Budget and National Planning, Mrs. Zainab Shamsuna Ahmed, revealed that agricultural sector is one of the most important sectors in Nigeria; it represents approximately 24% of the nation’s economy and employing more than 50% of the workforce, directly and indirectly.
“The sector is not only vital for economic output and employment purposes, but more importantly, it is an essential part of the societal culture. The importance of this sector, more than ever before, has been demonstrated by the administration of President Muhammadu Buhari, through the heavy investments channeled into it since 2015. The aim of these investments is to increase output in the entire value chain to meet the nation’s demand for food, employment and export earnings.
“It is as a result of government’s heavy investment and attention to this sector that during the recession brought about by Covid-19 pandemic, and the security challenges being encountered in some parts of the country, the sector consistently recorded positive Gross Domestic Product (GDP) numbers.” She explained.
Also the Statistician General, National Bureau of Statistics (NBS), Dr. Simon Harry, said that the National Agricultural Sample Census (NASC) is designed to produce vital primary data on the structural composition and operations of the sector.
“On completion of the census, the results will also form a statistical framework for the conduct of subsequent agricultural surveys in the country, capturing all aspects, including crop production, livestock, poultry, fishery and forestry,” he said.
In a bid to encourage all calibers of farmers in the country, the CBN Governor, Dr. Godwin Emefiele, urged bandits and all those living and hiding in the bushes to lay down arms and embrace the bank’s Anchor Borrowers’ Programme.
The Governor explained that while the government is doing all it could to stimulate economic growth; insecurity has remained a clog in the wheel of progress of the bank’s transformation programmes such as the Anchor Borrowers Programme.
We are all living witnesses to the great success achieved by all the investment programmes carried out by the present government. If you go into our markets today, you will see different types of made in Nigeria rice displayed; this is an evidence of the success of the initiative of the government.
Better days are coming in the agricultural sector. Contact us for your training in agro-exports. We conduct trainings both in exports and imports; contact our admin for more information.