The Central Bank of Nigeria (CBN) in its efforts to diversify the economy against the over-dependence on oil, says it has disbursed N174.48 billion through 19 participating financial institutions to finance 902,518 farmers in Nigeria.

The CBN governor, Godwin Emefiele, who disclosed this at the weekend during the CBN special day at the ongoing 30th Enugu International Trade Fair, said the bank also disbursed about N183.09 billion to stabilise the generation of more than 1,200megawatts in both hydro and thermal plants and overhaul of Jebba Hydro and Shiroro as well as Kainji Dams.

Emefiele, represented by the Director, Corporate Communications Department of Central Bank, Isaac Okorafor, commended the choice of the theme of Enugu trade fair, “Promoting and Enhancing Value Addition in the Oil and Non-Oil Sector of the Economy for Robust Economic Growth and Development”, stating that the Central Bank had sustained its intervention in other critical sectors, particularly in agriculture, power, aviation, health and many others.

He said: “It is with great sense of gratitude and honour that I welcome you all to the CBN special day at the ongoing 30th Enugu international trade fair with the theme: ‘Promoting and enhancing value addition in the oil and non-oil sector of the economy for robust economic growth and development’.

“The bank finds the aforementioned theme very fitting as it elaborately captured the efforts of the Central Bank of Nigeria towards diversification of the economy against the current over-dependence on the oil sector. As part of its developmental functions, the bank has sustained its intervention in other critical sectors, particularly in agriculture, power, aviation, health and so on; aimed at triggering robust economic growth and development of the country.”

Okorafor said the bank under the leadership of Governor Emefiele would not rest on its oars until Nigeria gets to its destination of robust economic growth and development.

Besides, he said the bank in its efforts to deliver credible, reliable and efficient payment system as key driver to any robust economic growth and development, had created the payment system management department to drive effective banking system.