N500bn agricultural intervention fund: CBN, NACCIMA partner on improving agriculture value chain


The Nigerian Association of Chambers of Commerce Industry Mines and Agriculture (NACCIMA) is strategically working with the Central Bank of Nigeria (CBN) to ensure that the agriculture value chain in the country benefit adequately from the recently announced N500 billion agricultural fund earmarked for the sector.

According to the Director-General of NACCIMA, Ambassador Ayoola Olukanni, NACCIMA’s involvement was to make sure that those involved in agricultural produce for export are captured in the funds’ accessibility.

“Recently, the CBN Governor unveiled a new roadmap for economic growth and development and I am happy to say that NACCIMA as the voice of Nigeria business has been invited to be part of the funds which have been announced as being earmarked for a few areas of exportable.

“With N500billion set aside by CBN, we want to strategically work with the CBN to see that Agriculture value chain in the country, and our Chamber members especially those on the Agriculture sector tap into the new programme to boost the food basket of the country.

“We have been pushing for our members to be more engaged with various initiatives and incentives that have been announced by the government. This is part of the things we are doing to expand the capacity of Agric value chain programmes and projects.”

The NACCIMA boss said the body has embarked on sensitisation of its members to enable them to access various funding programs of the government that are available; stressing that the smallholder farmers and medium-scale farmers were targeted.

Commenting on the African Continental Free Trade Agreement (AfCFTA), he said that AfCFTA will help reposition the competitiveness of locally manufactured goods, adding that Nigeria is a major player in Africa and cannot afford to miss out.

Olukanni noted that it will further help in putting the government on its toes, explaining that the trade agreement will lead to the country closing the infrastructural gap that has been existing for decades.

Speaking on the country’s competitiveness, he maintained that when proper trade policies are put in place and thoughtfully enforced, that the country has nothing to be afraid of, as improve its competitiveness.



Please enter your comment!
Please enter your name here