Agriculture
CBN Disburses N1.452trn For Real Sector Projects
The Central Bank of Nigeria (CBN) said it has disbursed N1.452 trillion to 337 large real sector projects in agriculture, manufacturing, services, and mining under the Real Sector Support Facility as part of the effort to diversify the nation’s economic base.
The Director, Corporate Communications Department CBN, Osita Nwanisobi, who disclosed this yesterday, during “CBN Special Day” at the ongoing 33rd Enugu International Trade Fair, also noted that N948 billion was disbursed to 4,478,381 smallholder farmers under the Anchor Borrowers’ Programme.
Nwanidobi stated that the programme was yielding the desired objective as the beneficiary farmers cultivated 5.2 million hectares of farmland, creating 12.6 million direct and indirect jobs across the country.
Reeling out other interventions the apex bank had taken to revive the economy and create access to credit, he said CBN had extended the interest rate of 5% across all its intervention loans to March, 2023.
“The recently launched Tertiary Institutions Entrepreneurship Scheme (TIES) is an innovative financing model that will create jobs, enhance the entrepreneurial ecosystem and support economic growth and development through Agribusiness, Creative Industry, Science & Technology and Information Technology/software development.
“The broad objective of the 100 for 100 Policy on Production and Productivity (PPP) is to boost production and productivity, necessary to transform and jumpstart the productive base of the Nigerian economy.
“It is also expected that the Initiative will reverse the nation’s over-reliance on imports, by creating an ecosystem that targets and supports the right companies and projects with potentials to immediately transform Nigeria’s productive base at every 100 days.
“The Bank has so far disbursed the sum of N29.51 billion to 31 projects, comprising 16 in manufacturing, 13 in agriculture, and 2 in healthcare sector. The RT200 FX Programme, which stands for the ‘Race to US$200 billion in FX Repatriation was recently announced by the CBN in consultation with the Bankers’ Committee”, he said.
He continued that, “under our Targeted Credit Facility (TCF), which was meant to cushion the severe effects of Covid-19 pandemic, we have disbursed N368.79 billion to 778,000 beneficiaries comprising 648,052 households and about 130,000 SMEs.
“The Bank also recently disbursed $8.50 billion to 6 healthcare projects under the Healthcare Sector Intervention Facility (HSIF), bringing the cumulative disbursements to N116.72 billion for 124 projects, comprising 31 pharmaceuticals, 56 hospitals, and 37 other health-related services.
“As part of the effort to further support the resilience of the healthcare sector, an additional tranche of N14.7 million was disbursed to five Researchers under the Healthcare Sector Research and Development (HSRD) Grant.”
Nwanisobi, however, noted that the theme of the fair, “Opening up Nigeria Business Windows for
Competitiveness in the Emerging Global Market”, could not have come at a better time than now when the world economy is gradually opening up to businesses after the global lockdown that affected economies, leading to recessions.
While commending the leadership of the Enugu Chamber of Commerce, Industry, Mines and Agriculture for her efforts in organising this year’s Trade Fair, he said CBN was delighted that they are driving pragmatic conversations on reshaping the Nigerian economy through the Fair.
“This perfectly fits into the Bank’s drive towards diversification of the nation’s economic base and encouraging the export of non-oil commodities.
“It also underscores the CBN Governor’s clarion call on Nigerians to not only focus on the production of commodities in which they have comparative advantage but to produce, add value and export so as to grow Nigeria’s economy and create jobs.”
Earlier in address, the President of ECCIMA, Jasper Nduagwuike, commended CBN for its interventions in various sectors of the economy, adding that it had more than proved its commitment to seeing to the welfare and wellbeing of the Nigerian economy.
This the farmers attributed to inadequate pest control facilities, lack of in-depth managerial skills, crisis, Climate control and other factors.
These were the observations of the farmers during the training of 6000 Cassava farmers and facility tour both at Fashola Agribusiness hub and Iseyin.
The training was coordinated by the African Agricultural Technology (AATF) Foundation and National Crops Research Institute, Umudike, Abia state, funded by Germany based Foundation.
The project coordinator of AATF, Samuel Ogunleye said the training has benefited the farmers immensely.
According to him, ‘the training is designed to benefit 6,000 Cocoa farmers in the 33 local government areas of the state.
‘The programme was incubated in 2023 but inaugurated in 2024. The programme has taken place in Ido and Ibarapa areas with the training of over 1,200 farmers.
‘Today similar programme is taking place here in Iseyin with over 2,000 farmers in attendance.
Farmers are being trained on how to increase their output as well gets it to the market through modern technology.
‘In Iseyin, there is a modern Cassava processor machine aimed at easing the processes.
‘The local farmers have access to the processor at a subsidize rate. Also, the foundation is assisting them at getting their products to the market”.
In his own presentation, the team leader, National Root Crops Research Institute, Dr. Adeyemi Olojede said the training was designed to address the decline in the
production of Cassava nationwide.
He said: ‘The training is designed for the off season in order to allow active participation of farmers.
‘Some of the challenges confronting the farmers are tabled while the solutions are proffered.
On the issue of funding, the University don blamed successive administrations in the Country for paying lip service to the sector.
According to him, the Research Institutes in the Country have not been able to access the Budget in the past five years.
The researchers are using their personal contacts to access funds from local and international organization to carry out research.
The All Farmers Association of Nigeria (AFAN), Lagos State Chapter, has lauded the Federal Government’s approval of 57 crop varieties to strengthen agricultural productivity in the country.
The Lagos State AFAN Chairman, Mr Sakin Agbayewa, disclosed this in an interview with the Newsmen, Wednesday in Lagos.
Reports said that in March 2026, the Federal Government approved 57 new improved crop varieties to boost food security, improve nutrition, and strengthen agricultural productivity.
The crops, selected for early maturity, higher yields, and resistance to pests and diseases, include 14 different types of staples, with notable advancements in rice, maize, yam, soybean, and plantain.
Agbayewa noted the approval of the crop varieties would help improve the yields of farmers in the state.
“We are excited to hear about the 57 new varieties of crops recently approved.
“What we desire currently in crop farming is not just about planting, it is about increased yield.
“A farmer can have a plot of land and have a high yield and another can have big plots of land and have a low yield.
“So, if when are talking about food security, it starts from the varieties you are planting and it starts from the seedlings”, Agbayewa said.
He described the introduction of the crops as a new development for crop cultivation.
“This newly approved 57 crop varieties should however be popularised among local farmers because not everyone is aware of this latest development.
“There are lots of issues currently affecting the cultivation of crops and the development of improved crop varieties will help the farmer’s productivity.
“Issues such as climate change effects, inconsistent rainfall patterns and weather clash among others are affecting farmers’ yield,” he said.
Agbayewa said there should be massive advocacy of the approved crop varieties across the board for farmers, adding, “The government is now waking up to their responsibility. So, we are”
The event, with the theme “Aligning Science, Enterprise, and Policy to Scale Insect-based Feed Solutions,” brought together policymakers, researchers, regulators, private investors, and BSFL farming entrepreneurs to map out strategies for integrating insect protein into Nigeria’s agricultural system.
According to him, black soldier fly larvae can feed on organic waste including market and kitchen refuse and develop into high-protein feed within 10 to 14 days.
“It contains about 40 to 45 per cent protein, making it a viable alternative to some protein source feed ingredients in poultry, fish, and pig feed ration if produced sustainably” he said.
Amole noted growing interest from feed manufacturers, stressing that supply, not demand remains the major constraint
“The question now is who can produce at commercial scale,” he added.
He also highlighted Nigeria’s comparative advantage, citing its tropical climate and abundant organic waste, which support year-round production without the need for expensive temperature control systems.
He however emphasised the need for standardisation to ensure consistency in nutrient quality and safety across producers.
Also speaking, a Senior Scaling and Innovation Expert from the institutes ‘headquarters in Nairobi, Dr. Ijudai Jasada, identified fragmentation within the BSFL value chain as a major barrier to scale.
“We need a coordinated system that connects all actors and reduces inefficiencies,” he said.
Stakeholders at the Roundtable reached a consensus that ILRI should take the lead in establishing and championing a national platform on BSFL.
Jasada said plans are underway to establish a national coordination platform to improve collaboration, attract investment, and support long-term growth of the sector.
He said the goal is to integrate insect-based feed into Nigeria’s mainstream feed industry by 2030, while creating employment opportunities for women and youth.
On capacity development, Prof. Cordelia Ifeyinwa Ebenebe of Nnamdi Azikiwe University acknowledged ongoing training efforts by development partners and institutions but warned that Nigeria’s regulatory framework for insect-based feed remains underdeveloped.
She noted that standards are still evolving and are expected to align with benchmarks being developed by the African Organisation for Standardisation.
Similarly, Prof. Olugbenga Adeniran Ogunwole stressed the importance of safety assurance and regulatory clarity, warning that policy gaps could hinder large-scale adoption.
He identified key challenges, including variability in nutrient composition, digestibility concerns linked to chitin content, and relatively high production costs.
A BSFL producer, Mr. Kolawole Ogunleye, said large-scale production remains difficult due to limited access to equipment, financing, and infrastructure, adding, “The process is labour-intensive, and most of the equipment is still imported,” he said.
From the private sector, Mr. John Amole, Country Representative of New Generation Nutrition (NGN), described insect protein as a growing but still underutilised solution in Nigeria.
He noted that although insect meal has been approved as a feed ingredient, it has yet to gain widespread market acceptance.
“There is interest, but the ecosystem is still developing, and there are no guaranteed off-takers,” he said.
Sharing international experience, Ms Talash Huijbers of InsectiPro, Kenya, highlighted the success of circular economy models that convert organic waste into protein and fertiliser.
The roundtable concluded with key recommendations, including the establishment of a clear legal framework for insect-based feed, financial incentives for startups, standardised substrates, integration into national waste management systems, and increased funding for research and extension services.