The Central Bank of Nigeria (CBN) has disclosed plans to create 10 million jobs for small-scale farmers in the country by providing strategic financing to farmers of cassava, cocoa and other primary agricultural produce.
Director of Corporate Communications of the Apex Bank, Isaac Okoroafor, said the plan includes the provision of high-yielding seedlings and extension services.
He said, “”The CBN is doing everything possible to support local farmers and anchor companies to ensure that the economy is expanded which will create a value chain and our target is to create five million jobs in the next five years to reduce the banditry, kidnapping and other social vices that are being witnessed today.”
Okoroafor further explained that the intention of the bank was to bring back the glory of farming and agriculture that used to be Nigeria’s economic mainstay at independence.
He advised small and large scale farmers to take advantage of the support being provided by the Bank.
“CBN is desirous of returning the farm settlements back to the country. Nigeria used to be the largest exporter of oil Palm, but today we import oil Palm,” he said.
“But with our plans to assist with finance, improved seedlings and to support anchor companies, farmers will produce more knowing that their produce will be immediately bought after harvesting, and at no loss to them.”
