CBN Assures On Food Sufficiency


The Governor of the Central Bank of Nigeria (CBN) Mr Godwin Emefiele, says Nigeria is on the verge of being self sufficient in food production.

CBN Boss Godwin Emefiele
CBN Boss Godwin Emefiele

The News Agency of Nigeria( NAN)reports that Emefiele spoke in Isa town, Sokoto State, on Saturday when he launched the 2016 Wheat planting season.

“The journey to make Nigeria self sufficient in food production, especially rice is being realised.

” This is where the country can feed itself and even have surplus for export,” he said

Emefiele also commended President Muhammadu Buhari for his ongoing efforts to diversify the nation’s economy from heavy dependence on oil revenue.

He further said that the president also deserved commendation for allowing the bank to initiate the Anchor Borrowers Programme.

Emefiele commended Gov. Aminu Tambuwal for providing adequate subsidised fertilisers and other inputs to the farmers.

Tambuwal commended CBN for introducing the Anchor Borrowers Programme, saying that it had provided the needed funds to farmers in the country.

Tambuwal called on the Federal Government to come up with emergency plans to purchase excess grains from the farmers.

He also raised the alarm the massive exportation of grains from Nigeria portends great dangers to Nigeria’s future food security.

cbnAlso, Gov. Atiku Bagudu of Kebbi extolled the programme, saying that Nigeria would be self sufficient in rice production by the end of 2016.

The Sultan of Sokoto, Alhaji Sa’ad Abubakar III, also noted that the current laudable efforts of the Federal Government would lead to self sufficiency in food production.

Abubakar also pointed out that this was crucial as food security was next to nothing.

The Managing Director of the Bank of Agriculture, Prof. Danbala Danju, said that the country is facing some existential threats.

” The population of the country is growing rapidly without corresponding increase in food production,” he said.

Danju, who called for the urgent repositioning of the bank, hailed President Buhari for diversifying Nigerian economy away from oil.

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