CBN’s Anchor Borrowers Programme creates 3.5m jobs in 2 years

Godwin Emefiele, CBN Governor
The Anchor Borrowers Programme (ABP) of the Central Bank of Nigeria (CBN) has generated almost 3.5 million direct and indirect jobs through the disbursement of a cumulative sum of N55.526 billion in two years to over 250,000 small holder farmers who cultivated almost 300,000 hectares of farmland for rice, wheat, maize, cotton, soybeans, and cassava, among others.

Godwin Emefiele, CBN Governor, who disclosed this at the weekend in Ondo State during the ground breaking ceremony of Greenfield Integrated Poultry Facility explained that the ABP which is targeted at boosting the agricultural potential of the country “has contributed to the creation of an estimated 890,000 direct and 2.6 million indirect jobs.”

He added that more investment is still needed in the poultry sector for the country to meet demand for poultry products. “Some analysts have estimated the Nigerian poultry industry to be worth about N1.2 trillion, comprising about 165 million birds, which produces over 650,000 metric tonnes of eggs and 290,000 metric tonnes of poultry, making Nigeria the largest producer of eggs in Africa.

“Despite this huge success in the sub-sector, statistics from Eurostat shows that between 2009 and 2011, over three million metric tonnes of poultry products were imported into the Republic of Benin, and eventually smuggled into Nigeria. This means that despite the huge domestic production, we are still far behind meeting our local consumption needs for poultry products.”

He noted that the investment by Greenfield Assets Limited and the
Ondo Investment Promotion Agency (ONDIPA) in the poultry and egg powderizing facility will go a long way in filling the gap, adding that the facility will further expand the implementation of the ABP in Ondo state.

The integrated poultry facility comprises a Pasteurized Liquid and Powder Egg Processing Facility, 200,000 Commercial Rearing Capacity, 600,000 Commercial Layers, Egg Grading and Packing Centre, a state of the art Feed Mill, and modern Broiler Processing Operation.

He said agriculture can still be used as a catalyst for creating jobs, reducing unemployment and driving growth in Nigeria,” he noted, even as he recalled that the ban on the importation of chickens in 2003, with the exception of day old chickens, boosted the poultry industry in Nigeria.


Emefiele said the move directly aligns with the Bank’s resolve and vision to create a professional and people-centred Central Bank that will act as a financial catalyst for job creation and inclusive economic growth.

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