CBN pledges suppprt for agric, mining development in Benue

Governor Hyacinth Alia of Benue State has solicited the support of the Central Bank of Nigeria (CBN) in streamlining State’s economy to engender economic growth, employment opportunities and development of vital infrastructure and technology as well as enhance financial inclusion.

The governor made the appeal when he paid a courtesy visit on the CBN Governor, Olayemi Cardoso, in Abuja, saying Benue has vast opportunities in agriculture, solid minerals and other areas of economic interests for which he was soliciting CBN’s support.

This was contained in a press statement issued by Bridget Tikyaa, Principal Special Assistant to the Governor on Media, Publicity and Communications Strategy as the governor urged the apex bank to support the State with its expertise in developing appropriate data in all the key areas of development for proper planning and strategic engagement with investors.

“We seek your support in providing system strengthening and equipment infrastructure for the Benue State Bureau of Statistics. This support will not only benefit the Benue State Government but will also enhance the capabilities of the CBN and Nigeria at large. A well-supported statistical system ensures we have reliable data to guide our economic policies and development strategies”, he said.

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Responding, Olayemi Cardoso, CBN governor commended Governor Alia for the visit and thanked him for the initiatives aimed at diversifying the economy.

Cardoso noted that prevailing insecurity in food producing areas and high cost of transportation of farm produce are also contributing to the rise in food inflation in the country.

He said the increasing activities of middlemen who often finance smallholder farmers, aggregate, hoard and move farm produce across the borders to neighbouring countries, had contributed to the problem of scarcity of foodstuffs across

The CBN governor however assured Benue governor that the bank would ensure credit development financial institutions such as Bank of Industry, Bank of Agriculture to partner the State for more grants and loan facilities for effective growth and development in various sectors.

He assured the governor that the CBN was ready to work with the Benue State Government in various areas to boost the State’s economy.