The Federal Government through the Central Bank of Nigeria (CBN) in collaboration with the National Agriculture Land Development Authority (NALDA) is set to develop integrated farms and provide finance for farmers across the country.
This was disclosed recently by the Governor of CBN, Godwin Emefiele, at the inauguration of the first NALDA integrated Farm Estate in Suduje Daura, Katsina State.
Speaking at the event, Emefiele reassured NALDA of CBN’s commitment to providing affordable and accessible finance to farmers in rural communities, in addition to the provision of jobs for the teeming population.
He noted that the initiative is expected to serve as an agricultural hub for inhabitants with its wide range of facilities to support farming, processing and packaging plants, storage, clinics, residential areas, school and training centres.
Emefiele further expressed the Bank’s readiness to work with NALDA to replicate similar integrated farm projects in rural communities to make life more meaningful for inhabitants of those areas through the provision of affordable and accessible finance to the beneficiaries under the integrated farm programme.
“These measures are also supporting our nation’s food security objectives. Nigeria is likely to make significant strides over the next three years in repositioning our agricultural sector for greater growth, given the combined efforts of NALDA, and the CBN’s in making land and credit available to farmers,” Emefiele stated.
Nigeria’s survival as a country, Emefiele further noted, was hinged on the resourcefulness and synergy among the government’s ministries, departments and agencies (MDAs) in areas of policy formulation and implementation, which he emphasised was essential to the attainment of Nigeria’s desired economic growth.
The CBN boss lauded the Buhari administration for resuscitating NALDA to optimally deliver on its mandate, while urging deposit money banks in the country to support the NALDA, which he noted, aligned with the developmental priorities of the CBN.
He further stated that the CBN, through the deployment of well-targeted intervention programmes to farmers in rural communities, was aiding the government’s efforts at improving job and wealth creation.
He added that the CBN was also positioned to ensure the integration of rural farmers into the Federal Government’s Economic Sustainability Plan, which is focused on providing five million homes with electricity using renewable energy.