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NIGERIA: Why We are Focusing on Agriculture, Industrial Revolution - CBN

Through Anchor Borrower financial intervention of the CBN, minimum of ten commodities would be produced to make food readily available for Nigerians.

Ola Olaoluwa
Ola Olaoluwa

The Central Bank of Nigeria (CBN) says it will continue to provide interventions for Nigeria's agricultural and industrial revival as the two sectors, amongst others, remained a veritable tool towards building a robust economy for the country.

Mr. Nwanisobi Osita, CBN’s acting Director, Corporate Affairs Communications, disclosed this at the weekend in Lokoja during a one-day interactive enlightenment session with stakeholders organised by the CBN in collaboration with labour unions, according to a This Day report.

Image Source: WaystoCap

He said that the CBN's Anchor Borrower policy, which centred around establishing a firm and stable microeconomic environment would pave room for low inflation, financial stability, exchange rate stability and efficient payment system.

The acting director who lamented that the country cannot continue to import items and consumables the nation has the capacity to produce, said through Anchor Borrower financial intervention of the CBN, minimum of ten commodities would be produced to make food readily available for Nigerians.

Nigeria In Focus:

Population: 206.6 million (Compared to South Africa's 59.6 million)

GDP: $504.57 billion (Compared to South Africa's $369.85 billion)

GDP Per Capita: $2,465 (Compared to South Africa's $6,193)

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Ola Olaoluwa

Writer | Economist | Actor | Fashion Entrepreneur