Nigeria Commits N428 bn on Wheat, Sorghum Importation in 2015, Says CBN Governor

-
Nigeria Commits N428 bn  on Wheat, Sorghum Importation in 2015, Says CBN Governor


The Governor of Central Bank of Nigeria (CBN), Mr. Godwin Emefeile, on Tuesday over N428 billion was expended on the importation of wheat and sorghum in 2015 alone.

Emefeile said the huge bills on the importation of these products informed the decision of the apex bank to boost and sustain the local production of agricultural products such as rice, wheat, cassava fish and poultry among others. 

Speaking at the inauguration of Sorghum Milling Plant at Northern Nigeria flour Mills company in held in Kano, the CBN Governor, who was represented the Deputy Governor, Cooperate Service Directorate, Alhaji Suleiman Barau disclosed that 513 projects across the country had been financed by Commercial Agricultural Credit Scheme (CACS) while saying that a total of 604 projects had equally been financed under Real Sector Refinancing Project.

He said these interventions were the outcome of the collaboration between the Bank and the Presidential Task Force on Food Security, aimed at boasting agricultural production, employment and wealth creation. 

According to him, CBN would continue to support any venture that would save the nation foreign exchange in which the Northern Nigerian Flour Mill Plc had demonstrated a strong commitment to pursue.

In her remarks, Minister of State, Industry, Trade and Investment, Hajia Aisha Abubakar, said the inauguration of the milling plant was unique in the sense that it would serve as a real boost in sourcing raw materials locally and would inadvertently have positive impacts on local farmers /out growers.

Abubakar also said that the commissioning of the plant directly aligned with the vision of the administration’s Economic Recovery and Growth Plan (ERGP) designed to promote and sustain an inclusive growth in the implementation of Nigeria Industrial Revolution Plan(NIRP) .  

She explained that the plan also focused on areas in which Nigeria ad comparative advantage that would guarantee competiveness in the global market and increase manufacturing contribution to GDP in the next five years.

Comments

Post a Comment

Popular posts from this blog

Population of Doctors in Nigeria Hits 74,543

-
Image
  The number of registered medical doctors in Nigeria has risen to 74,543. According to the federal government statistics, as at 2018, the stock of professionally regulated health workers in Nigeria health sector has also recorded a significant increase. The population equates to 36.3 percent of medical doctors per 100,000 population (doctor to population ratio of 1: 2753). Fifty-nine percent of the registered medical practitioners were in good standing with 35 percent being females. While presenting the statistics at a one-day workshop on Nigeria Health Workforce for Universal Health Coverage organised by the Ministry of Health and the World Health Organisation (WHO) in Abuja, Deputy Director, Human Resource Department, Shakuri Kadiri, said there is a variation in the distribution of medical doctors by state of practice from the reported 2012 density. He said: "The density of medical doctors presented is based on the number of doctors in good stan
Read more

Drug Insecurity: House Urges FG to Fund Indigenous Drug Research

-
Image
The House of Representatives on Tuesday urged the federal government to invest more in the National Institute for Pharmaceutical Research and Development in order to encourage local and indigenous research. The House also urged the government to revisit the National Drug Policy as a way to promote and boost the medical industry. It directed its Committees on Health Institutions, Health Care Services and Science and Technology to organise a round table discussion to chart a probable course for the development of locally made drugs. The resolution was sequel to the adoption of a motion titled: 'Need to check the Rise of Drug Insecurity and to encourage Indigenous Production of Drugs in Nigeria', which was moved by Hon. Dennis Idahosa at the plenary. Moving the motion, Idahosa said the House is aware that China has recently been inflicted with the coronavirus disease which has paralysed its economy, thus rendering it unable to produce or
Read more

Court Stops National Assembly From Taking Over Bauchi Assembly

-
Image
As the National Assembly received a report from the committee it sent to Bauchi State to probe the leadership crisis rocking the state assembly since its inauguration last month, the state high court on Monday issued an order of interim injunction ordering that the present Speaker and Deputy Speaker, Abubakar Suleiman and Danlami Kawule respectively,   should continue leading the assembly pending the determination of the suit before it. Justice Muazu Abubakar, who issued the order, fixed October 3, 2019, for hearing of the motion and substantive application filed by the speaker, deputy speaker and other 11 members of the assembly who participated in the assembly election. Abubakar said after listening to and considering the submissions made by the lawyers of the applicants Barrister Jibrin Sa'id Jibrin, A.S Idris and U.K Adam, he hereby ordered that status qou between the parties in the suit be maintained until the determination of the motion on notice. I
Read more