Kogi to benefit from CBN’s palm produce drive

By Elizabeth Christopher

Palm nuts

The Kogi State Economic Council under the Chairmanship of Governor Yahaya Bello has eked out a deal with the Central Bank of Nigeria (CBN) for Kogi to be included among states with special intervention funds for palm oil production.

The scheme which is being championed by the Central Bank of Nigeria will provide special funds for farmers in the benefiting states across the palm oil value chain.

Apart from the funds to be made available to clusters of farmers, the scheme will also provide improved seedlings to farmers as Nigeria aims to reverse the high importation of palm oil for the production of soap and other chemicals.

The deal to include Kogi state was struck when the state Governor Yahaya Bello led a high-powered delegation of the State Economic Team to meet with the Governor of the Central Bank of Nigeria, Mr Godwin Emefiele at the CBN Headquarters in Abuja, Nigeria’s capital.

Speaking to reporters after the session, Governor Yahaya Bello said the prospect would make the state the leading producer of palm oil in Nigeria:

“Kogi has a comparative advantage to become a major palm oil producer in Nigeria. We have been doing that across the state from the West to the Central and to the Eastern flank of the state.

“With this, my administration will galvanize thousands of young and old farmers to produce palm oil massively with improved seedlings and better funding.’’

He added that the scheme would help the New Direction Government in Kogi state to benefit from national schemes as the Food Headquarters of Nigeria:

“We are going back home to put in place structures that will make the programme a huge success and of benefit to our people who have been looking forward to a massive opportunity as this.”

 Amaka E. Nliam