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CBN commends border closure for investment drive

The Central Bank of Nigeria says investors are beginning to show interest in the various sectors of Agriculture.

The Governor of the Bank, Mr. Godwin Emefiele made this known at a meeting with state Governors to review its intervention in the Agriculture sector.

Mr. Emefiele said the investors had committed various sums to livestock and dairy production, rice, cotton and tomato paste production.

He appealed for the states to lend more support to the investment drive by making land and other incentives available to the prospective investors.

Mr. Emefiele expressed satisfaction with the closure of the land borders, a development he said had limited smuggling and improved patronage of locally produced rice and other products.

In the oil palm sector, the CBN Governor said it targeted one point four million hectares across ten states, while arrangement had been concluded to provide loan facilities to willing investors at concessional rate.

On his part, the Governor of Ekiti state and chairman of the Governors’ forum, Dr. Kayode Fayemi appreciated the intervention of the apex bank in developing the Agric value chain and said it had the potential to jumpstart the nation’s economy.

The meeting which featured an interactive session had over fifteen Governors in attendance.

Biodun Dare

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