R-L: Governor Nyesom Wike of Rivers State; Sabo Nanono, Minister for Agriculture and Rural Development; and Mr. Godwin Emefiele, Governor of CBN at the Project Commissioning Photo: Twitter

Food Security: CBN, Minister commission 45,000-tonne cassava processing facility in Rivers

*The new facility will help in reducing the country’s reliance on $580million cassava by-products imports yearly, says Godwin Emefiele, Governor of Central Bank of Nigeria

Isola Moses | ConsumerConnect

Designed to support improved production and processing of cassava into high-quality flour towards enhancing food and nutrition security in the country, Mr. Godwin Emefiele, Governor of the Central Bank of Nigeria (CBN), has inaugurated the Rivers Cassava Processing Company, a 45,000-tonne capacity integrated processing facility, in Afam, Rivers State.

Emefiele, who disclosed that Nigeria currently imports over $580million cassava by-products annually at the launch of the facility Thursday, May 27 noted the new integrated facility would provide high-quality cassava flour for households, industries, and bakeries in the country, agency report said.

A section of the Rivers Cassava Processing Company in Afam

The CBN Chief stated: “The facility will help in reducing our reliance on imports of cassava by-products, which serves as a key input in the production of food items in several factories.

“Nigeria imports over $580 million worth of cassava by-products annually.”

According to him, the cassava processing facility is designed to support improved production and processing of cassava into high-quality flour in Nigeria.

He stressed that the CBN remains committed to working with state governments in supporting smallholder farmers (SHFs) and processors across various commodities such as cassava, palm oil, and fisheries.

Emefiele applauded the efforts of the Rivers State Government, working with Shell Petroleum Development Corporation (SPDC), Dutch Embassy Investment Nigeria Limited and their technical partners in setting up the integrated facility in the state.

According to him, the cassava processing facility will support the CBN’s mandate to promote Nigeria’s economic growth and development.

He stated that “the cassava processing facility will also provide farmers with a verifiable platform to access finance from the CBN and other financial institutions through our Anchor Borrowers Programme.

“With the capacity to process over 45,000 tons of cassava, this facility will provide high-quality cassava flour for households, industries, and bakeries.”

The developmental finance initiatives at the CBN are focused on creating an enabling environment that would drive both public and private sectors’ participation in the real sector of the economy, said he.

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