According to a recently published article, the Central Bank of Nigeria (CBN), led by Godwin Emefiele, had been instrumental in achieving the food security mandate of the federal government. CBN in its developmental role had launched several important initiatives aimed at repositioning agriculture, which had before now been relegated to the background by previous administrations.
In the article it is stated that the CBN’s Anchor Borrower Programme (ABP) had been instrumental in the local rice revolution in the country, helping to drastically slash the country’s annual food import bill.
Aligned with the presidential directive on growing agriculture, Governor Emefiele had in his Five-Year Policy Thrust of the CBN (2019 – 2024), promised to consolidate on the success of the CBN ABP and other intervention programs geared towards supporting the growth of the agriculture and manufacturing sectors in the country.
Emefiele has also recently announced that the bank remained committed to improving the local production of wheat and reducing importation by 60 percent over the next two years.