As Nigeria joins other countries to mark this year’s World Milk Day, the Central Bank of Nigeria ( CBN) said it has intervened in developing the livestock sector and other areas in agriculture, by investing up to N40 billion.
This disclosure was made on Thursday in Abuja by the Director, Department of Development Finance, CBN, Philip Yusuf at an event organised by the Federal Ministry of Agriculture and Rural Development (FMARD), Commercial Dairy Ranchers Association of Nigeria (CODARAN), Abuja Chamber of Commerce and Industries (ACCI), Sahel Consulting Agriculture and Nutrition Limited Agriculture Correspondents Association of Nigeria (ACAN) and Centre for Journalism and Innovation Development (CJID).
Yusuf stated that CBN was committed to the livestock sector, because of its desire to bridge the milk production and supply gap of about 1.1 million metric tonnes in the country.
He said, “We at the CBN are committed to the development of the livestock sub-sector as evidenced by our interventions in facilitating funding for numerous projects under our Commercial Agriculture Credit Scheme (CACS). Agribusiness Small and Medium Enterprises Investment Scheme (AGSMElS).
“Real Sector Support Facility-Differentiated Cash Reserve Requirement (RSSF-DCRR) etc. to the tune of over N40 Billion.
“We also, recognize the potential of this well-orchestrated collaboration to drive our common goal of breed improvement and sustainable increase in milk production to reduce the milk supply gap of 1.1 million MT (from 600,000mts)”.
Earlier in his speech, the Permanent Secretary, Federal Ministry of Agriculture and Rural Development, Dr. Ernest Umakhihe , disclosed that government has made commitment to implementing policies that will espouse improvement in the livestock sector.
Umakhihe also noted that the Federal Executive Council had approved the Ministry’s National Dairy Policy, as a measure to boost milk production in the country.
“Amidst other efforts to boost the dairy production in the country, the Federal Executive Council has approved the National Dairy Policy to guide the operation of the Dairy sub-sector. The Policy is to scale up milk production, collection and processing in the country and create enabling environment for increased activities along the dairy value chain.”
According to him, ” We will continue to provide an enabling environment for increased milk production, processing, distribution and consumption to improve the nutritional status of Nigerians, create jobs along the dairy value chain and reduce national expenditure on the importation of milk and milk products”.
