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Agribusiness: CBN unveils maize pyramids in Kaduna, disburses N948bn to 4.5m farmers under ABP

CBN's Maize Pyramids in Kaduna Photo: Channels TV

*The Central Bank of Nigeria says the Bank’s intervention is to increase maize production by 1.6million metric tonnes, create jobs and enhance the skills of Nigerians in maize commodity, facilitate easier access to funding for farmers, and improve the country’s economy

Gbenga Kayode | ConsumerConnect

As part of the Banker’s Bank interventions in the agricultural sector of the economy, the Central Bank of Nigeria (CBN) has unveiled 21 maize pyramids in Kaduna State.

ConsumerConnect reports the project was designed to boost maize production towards promoting food security and self-sufficiency in the West African country.

Mr. Godwin Emefiele, Governor of CBN (l), and Dr. Bello Abubakar, President of MAAN, on the occasion in Kaduna 

The CBN stated: “As of February 2022, it has under its Anchor Borrowers Programme, disbursed about N948billion to 4,478,381 Smallholder Farmers (SHFs), who cultivated 5.2 million hectares of farmland across Nigeria, creating 12.5million direct and indirect jobs.”

In his address at the unveiling Friday, March 25, Mr. Godwin Emefiele, Governor of CBN, represented on the occasion by Mr. Philip Yila Yusuf, Director of Development Finance Department, said maize demand in Nigeria was estimated to increase at an average of 3.2 per cent per annum, largely due to population increase and urbanisation.

Emefiele stated: “Hence, the objectives of the CBN intervention are to increase maize production by 1.6 million metric tonnes, create jobs and enhance the skills of Nigerian people in maize commodity, facilitate easier access to funding for farmers; and improve and grow the economy.”

According to him, through these interventions, maize production in the country has risen of at 2021.

He also said: “As we prepare for another wet season programme, the CBN is committed to financing over 600,000 hectares.”

Dr. Bello Abubakar, President of the Maize Association of Nigeria (MAAN), said the maize pyramids had demonstrated the capacity of the Association in mobilising the farmers to produce what can sustain the country and even export over a period of time.

Abubakar stated: “MAAN is not just supporting food security but food and nutrition security with the collaboration with HarvestPlus to promote the production and consumption of nutritious Vitamin A maize in Nigeria, there are 21 pyramids each constructed with between 30 to 79 trucks of maize.”

The Minister of Agriculture, Dr. Mahmood Abubakar, represented by Dr. Timkat Vontav, North-West Zonal Director of Agriculture, said the ABP of CBN has been able to close the gap between the supply of maize grains and its demand by domestic and industrial users.

Emir of Zazzau, Ambassador Ahmed Nuhu Bamali, prayed that in the next few years, Nigeria would become self-sufficient in food production and stop importing from other countries.

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