The Managing Director/Chief Executive Officer, Harvestfield Industries Limited, Prince Martins Awofisayo has attributed the transformation in cassava production in the country to the intervention of the Central Bank of Nigeria (CBN).
Awofisayo, who disclosed this in a media chat while reacting to a recent online news report credited to an agro-processor, alleging that the CBN’s interventions on agro-processing were unrealistic and only on paper, said the cassava sector has greatly benefited from most of the CBN interventions in agriculture, through the Commercial Agriculture Credit Scheme and Anchor Borrowers’ Programme.
He said: “I am aware of lots of agro- processors that have received funding support from the CBN. It is CBN that has revolutionised cassava production in Nigeria through its intervention funds. On November 19, 2019, it was this same CBN that launched a targeted project called “Cassava Value-Chain Intervention Project,” where a Memorandum of Understanding (MoU) was signed with Governors of cassava producing states, Nigeria Cassava Growers Association, Large-Scale Cassava Processors and off-takers of cassava derivatives.
“Therefore, it is uncharitable to disparage CBN on its intervention programme, especially when the sector which you belonged to has benefited immensely, either directly or indirectly.”
Awofisayo who noted that the issue of farmers/herders crisis, which has wreaked a number of farms is beyond the CBN’s control, said despite the challenges, the apex bank recorded successes in food security during the COVID-19 pandemic lockdown.
According to him, the CBN interventions in agriculture have made farmers’ associations become more organised, structured and committed than ever before.
While speaking on the success recorded by his business through the Commercial Agricultural Credit Scheme (CACS), he said: “Our company decided to embark on backward integration in 2017 after being a major importer of agrochemicals for over 15 years and also to support the vision of the Federal Government and that of the CBN on “Produce in Nigeria what we Consume and Consume what we Produce in Nigeria.
“To achieve this objective, we applied for the CBN CACS facility in 2017 through our Commercial Bank (Wema Bank) and we were successful in our application without any stress. We subsequently built one of the largest first generation agrochemical factories in Nigeria, located in Ogun State and commenced production in 2018.
“Our factory currently employs over 800 direct workers and over 10,000 indirect workers through our value chain nationwide. We have over 15,000 dealers and retailers including 27 warehouses nationwide,” he said.
He appealed to the Federal Government to invest more in agriculture, especially dry season farming, to increase food production by investing more in irrigation farming throughout the country.
“As at now, our agriculture is predominantly rain fed farming system, which is no longer sustainable to feed the nation let alone export due to adverse climatic conditions…”
