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CBN disburses N366.39bn for 465 agricultural projects

By Abiodun Fagbemi (Ilorin), Cornelius Essen (Abuja) and Joseph Wantu (Makurdi)   |   05 October 2016   |   4:39 am
Central Bank of Nigeria's (CBN) governor Godwin Emefiele

Central Bank of Nigeria’s (CBN) governor Godwin Emefiele

• Benue clears 3,750 hectres for dry season farming
• Institute trains 60 youths on mechanisation

The Central Bank of Nigeria (CBN) has disbursed N366.39 billion to 465 projects under the Commercial Agriculture Credit Scheme (CACS) from 2009 to date.

The scheme was established to address financing challenges in the entire agriculture value chain: production, processing, storage and marketing or distribution.

CBN Governor, Godwin Emefiele, disclosed this at an international conference on ‘Environment Dialogue 1: Diversification of Economy – The Role of Jatropha’, held at the NAF Conference Centre, Abuja.

Jatropha is a non-edible oil seed plant.

Meanwhile, the National Centre for Agricultural Mechanisation (NCAM), yesterday, commenced training in design and fabrication of agricultural implements for 60 youths across the nation.

This comes as the Benue State Commissioner for Agriculture, James Anbua, disclosed that 3,750, hectares of land have been cleared for this year’s dry season farming in the state.

Acting Director of NCAM, Yomi Kasali, said: “This training and empowerment is not targeted at the novice but youths undergoing training in welding and fabrication, to brush up their skills and further empower them, as part of the commitment of the Federal Government towards youth empowerment through agricultural development.”

Represented by Dr. Aisha Mahmud, Emefiele said the dialogue could not have come at a better time, when the current global economic crisis required game changing transformations, to achieve resilient and sustainable growth through economic diversification.

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