CBN TO RAISE ANAMBRA’S AGRIC INTERVENTION FUND TO N5Bn- Emefiele *as FG’s delegation storm Anambra to understudy Obiano’s agric success story

The Central Bank of Nigeria (CBN) has promised to review upwards Anambra State’s Agriculture Intervention Fund following a request by the state government to increase the fund for farmers in the state to engage more in mechanized agriculture.


The CBN Governor, Mr Godwin Emefiele disclosed this on Thursday during a visit to the state in company of a high-powered Federal Government delegation which included the Minister of Agriculture and Rural Development, Chief Audu Ogbe, the Governor of Kebbi State, Alhaji Abubakar Bagudu and top CBN and Federal Ministry of Agriculture officials.

The team had come on a fact finding visit to the Coscharis Farms, Anaku in Ayamelum Council Area of the state to assess the impact of the N2billion CBN-backed funds earlier provided for disbursement to farmers and to understudy the state’s success story on rice production.

The team toured the farm’s large expanse of rice field where harvesting was already on-going with mechanized harvesters as well as other facilities in the farm after which they met with members of the Rice Farmers Association in the state at the Omor Rice field, also in Ayamelum Local Government Area of the state.

Conducting the team round the farm, the State Governor, Chief Willie Obiano revealed that the major factor driving the Anambra success story in rice production was the organization and coordination his administration brought to bear in the Agric Sector particularly in the distribution of funds and farm implements to the farmers.

He described the visit as a great opportunity to show Nigerians and indeed the world that “Anambra Rice” is real, adding that with its present production capacity, Anambra State would not only meet it’s consumption capacity soon but will also start producing for export.

The Governor commended the CBN for its support which has enabled the state achieve so much in Agriculture and appealed to the apex bank to raise it’s intervention funds to the State to the tune of N5billion to enable more farmers benefit.

The Minister of Agriculture and Rural Development, Chief Ogbe in his remarks, said President Muhammadu Buhari was investing heavily in Agriculture because of his belief that unless Nigeria was able to feed her population, it cannot boast of being independent, adding that with what is happening in Anambra State, the country would stop importing rice soon.

He applauded the structure which the state government has put in place that has energized the value chain in the rice subsection, and said the jobs already being created especially for the youths would complement efforts which the Federal government is making at job creation.

On his part, the CBN Governor, Mr Emefiele explained that the Bank decided to venture into supporting Agricultural activities in the country in order to end the heavy dependence on  imported food in the country and to create a viable alternative for driving the nation’s economy which oil reserves he noted, is fast depleting.

Mr Emefiele said the visit was the beginning of an assessment tour of the nation’s agriculturally endowed states on the mandate of the President, aimed at developing a pragmatic blueprint that will drive the federal government’s drive to transform the nation’s Agric sector.

The Kebbi State Governor, Alhaji Bagudu described the State government’s decision to provide infrastructure for the farmers as highly commendable.

The Chairman of Coschars Farms, Mr Cosmas Maduka stated that though he had conceived the idea of venturing into agriculture about twenty-nine years ago, he was particularly encouraged by the intervention of Gov Obiano in the area of security and the introduction of the enabling framework for partnership to achieve what he has been able to do in collaboration with the state government.