• About
  • Advertise
  • Contact
Friday, October 3, 2025
  • Login
Vital News
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security
No Result
View All Result
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security
No Result
View All Result
Vital News
No Result
View All Result
Home Economy

CBN Disburses N9.7tln Intervention Funds

......targets $200bln non-oil export revenue

Vital News by Vital News
December 12, 2022
in Economy
0
Cashless Policy Has Come To Stay – CBN Governor Emefiele
Share on FacebookShare on Twitter

The Central Bank of Nigeria (CBN) has disbursed N9.714trillion through various interventions.

According the bank’s Development Finance Department (DFD) Report made available at its 2022 Retreat, in Abuja, on Monday, the Manufacturing/Industry sector had the highest allocation of 32.6 per cent.

It was followed by Energy/Infrastructure and Agriculture with 23. 1 per cent and 22.8 per cent allocations, respectively.

In his address, the Director of DFD, Mr. Philip Yusuf said that the CBN was at the forefront of food security in the country.

He noted that although, some people had raised concerns about rising food inflation, despite the bank’s massive interventions in the agricultural sector, the nation would have faced famine, if the CBN had not intervened.

RelatedStories

Gambari Urges Global Leaders To Act On Gulf Of Guinea Security To Unlock Africa’s Wealth

Why EFCC Must Unravel Alleged Financial Malfeasance, Misapplication In Yobe By Usman Machina

Economy Has Turned Around, There’s Light at The End Of The Tunnel – President Tinubu At Installation Of New Olubadan

Nigeria’s Rising Trade Surplus Shows Reforms Driving Real Diversification – TSF

His words, “In the global environment today, the challenge is on multiple fronts, geo-political instability like the Russia Ukraine war has pushed food inflation to a record high and it has global consequences for countries and citizens across the world.

“Price volatility across the world has also proven to have dire consequences especially for developing economies.

“The department has been in the forefront of food security drive in Nigeria through different programmes and initiatives.

“Nigeria is a country with a population of over 200 million people with a population growth of 2.5 per cent annually with GDP of $445 billion and the largest economy in Africa.

“With six geo-political zones and different languages, Nigeria offers huge opportunity of growth. As such, the task of ensuring food security and stabilising growth is hardly a work in the park.

“The CBN has been at the forefront of ensuring Nigeria achieves food security in collaboration with other fiscal authorities also stimulating growth in collaboration with ministry of industry.

“Food security in Nigeria has received massive boost in the last 5 years since the CBN intervened in the sector to curb over-reliance on imported goods.

“We have tranversed the length and breadth of Nigeria, empowering farmers and MSMEs in access to Finance and agric-business and also using target credit facility. It became a comfort for households especially during the covid 19.

“For those looking at food inflation to discredit the work we have done in the development finance department, I just want to tell them that Nigeria is part of a global financial system and can be prone to global shocks.

“With the rising price of food, we would have faced severe famine if not for our interventions and the agric-value chain have witnessed tremendous progress because of our interventions which we believe has set Nigeria is on the part of sustainable food sufficiency.”

In his remarks, the Deputy Governor in charge Corporate Services, Mr. Edward Adamu promised greater support for the DFD to further its interventions.

He added that all regions of the country would feel the impact of the interventions.

Also speaking, the Deputy Governor, Financial Systems Stability, Mrs. Aisha Ahmad, urges beneficiaries of the CBN loans to pay back, to enable others to benefit from the interventions.

Her words, “The loans which has been disbursed by the CBN through the development finance department has impacted greatly on the sustainability of Nigeria’s agric value chain which was evident in the third quarter GDP report released by the NBS which shows a growth of 29.9 per cent growth from 21 per cent recorded in the first quarter of 2021.

“However we urge the beneficiaries of these interventions to pay up the loans so that other people can also benefit.” (Vanguard)

Tags: CBNdevelopmentfoodprice
Previous Post

Bandits Kill 21 In Bauchi, Katsina

Next Post

Court Remands Zamfara Commissioner In Prison For Contempt

Vital News

Vital News

RelatedStories

Gambari Urges Global Leaders To Act On Gulf Of Guinea Security To Unlock Africa’s Wealth
Economy

Gambari Urges Global Leaders To Act On Gulf Of Guinea Security To Unlock Africa’s Wealth

September 27, 2025
Court Berates EFFC Over Disregard For Rule Of Law, Orders Immediate Release Of Aisha Achimugu
Crime

Why EFCC Must Unravel Alleged Financial Malfeasance, Misapplication In Yobe By Usman Machina

September 26, 2025
Economy Has Turned Around, There’s Light at The End Of The Tunnel – President Tinubu At Installation Of New Olubadan
Culture

Economy Has Turned Around, There’s Light at The End Of The Tunnel – President Tinubu At Installation Of New Olubadan

September 26, 2025
C-ISOWN Praises President Tinubu On Credible Delivery Of Social Welfare Programmes, Achievements In Nigeria
Economy

Nigeria’s Rising Trade Surplus Shows Reforms Driving Real Diversification – TSF

September 26, 2025
Dangote Spends N720bln To Acquire 4,000 CNG Trucks, Begins Free Distribution Of Fuel August 15
Business

Dangote Refinery Reviving Moribund Companies In Nigeria – Manufacturers

September 24, 2025
Next Post
3 Secondary School Boys Gang-Rape 14yr-old Female Colleague In Ondo

Court Remands Zamfara Commissioner In Prison For Contempt

I will Prioritise Job Creation, Employment For Youth, Women If Elected President – Atiku

I will Prioritise Job Creation, Employment For Youth, Women If Elected President – Atiku

2023 : INEC Says Politicians Already Buying PVCs From Voters

2023 : INEC Says Politicians Already Buying PVCs From Voters

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Follow Us

Recommended

June 12 : Bello Salutes Founding Fathers Of Nigeria’s Democracy, Says Their Efforts Will Not Be In Vain

Bello Commends Joint Security Taskforce, Restates Commitment To Make Kogi Safe

2 years ago

Okupe, ex- Obasanjo’s aide reveals 15 facts about Second Niger Bridge

4 years ago
Group Eulogises Ugwuanyi For Upgrading Access Road

Group Eulogises Ugwuanyi For Upgrading Access Road

3 years ago
NSF : Abiodun Inspects Facilities, Says Ogun Ready To Host Best Festival

NSF : Abiodun Inspects Facilities, Says Ogun Ready To Host Best Festival

6 months ago

Instagram

    Please install/update and activate JNews Instagram plugin.

Categories

  • Agriculture/ Water/ Mineral
  • Aviation
  • Business
  • Crime
  • Culture
  • Economy
  • Education
  • Entertainment
  • Environment
  • Football
  • Foreign
  • Gender
  • Health
  • Judiciary
  • Labour
  • Maritime/ Marine Transport
  • National
  • News
  • Oil & Gas
  • Opinion
  • Opinion
  • Politics
  • Power
  • Religion
  • Security
  • Sports
  • Tourism
  • Transport
  • Uncategorized

Topics

Abiodun Abuja APC arrest Atiku Bandits Bello Benue Buhari CBN cement Court Dangote death dies drugs Economy EFCC Election elections FG gunmen Hajj INEC Kano kidnap Kill Kogi Kwara Lagos NDLEA Niger Nigeria Ododo Ogun Oyo PDP Police Power refinery rescue road Security students Tinubu
No Result
View All Result

Highlights

Engineer Urges Nigeria To Invest In Aerospace Technology To Tackle Insecurity, Modernise Aviation

Bandits Kidnap Police Officer In Kwara

Death Toll In Ibaji Boat Mishap Rises To 36

Arrest of 147 Terrorists In One Week, Confirms Tinubu Is Boosting Troops’ Morale – Group ‎

Fubara Sacks Commissioners, SSG, SAs, SSAs

2027 : Group Holds Awareness Walk In Kogi, Reaffirms Commitment To Vision, Leadership Of President Tinubu

Trending

Kogi Vows Strict Enforcement Of Ban On Illegal Trailer Parks From  October 29
News

Kogi Vows Strict Enforcement Of Ban On Illegal Trailer Parks From October 29

by Vital News
October 2, 2025
0

The Kogi State Government says it will commence strict enforcement of ban on Zariagi, Osara and other...

Realnews Announces Theme, Date For It’s 13th Anniversary Lecture

October 2, 2025
Yakubu Gowon University Honours Deputy Commissioner Of Police, Hakeem Adedeji,  For Hard Work, Dedication

Yakubu Gowon University Honours Deputy Commissioner Of Police, Hakeem Adedeji, For Hard Work, Dedication

October 2, 2025
FG Cancels Independence Anniversary Parade

Engineer Urges Nigeria To Invest In Aerospace Technology To Tackle Insecurity, Modernise Aviation

October 2, 2025
Police Begin Manhunt For Killers Of Three Officers, Two Vigilante In Kogi

Bandits Kidnap Police Officer In Kwara

October 2, 2025
ADVERTISEMENT
Vital News

Vital News is an online newspaper with a mission to uphold professional journalism by reporting and publishing only facts and figures-based news reports across Nigeria and beyond.

Recent News

  • Kogi Vows Strict Enforcement Of Ban On Illegal Trailer Parks From October 29 October 2, 2025
  • Realnews Announces Theme, Date For It’s 13th Anniversary Lecture October 2, 2025
  • Yakubu Gowon University Honours Deputy Commissioner Of Police, Hakeem Adedeji, For Hard Work, Dedication October 2, 2025

Categories

  • Agriculture/ Water/ Mineral
  • Aviation
  • Business
  • Crime
  • Culture
  • Economy
  • Education
  • Entertainment
  • Environment
  • Football
  • Foreign
  • Gender
  • Health
  • Judiciary
  • Labour
  • Maritime/ Marine Transport
  • National
  • News
  • Oil & Gas
  • Opinion
  • Opinion
  • Politics
  • Power
  • Religion
  • Security
  • Sports
  • Tourism
  • Transport
  • Uncategorized

© 2022 Vital News - . All Rights Reserved.

No Result
View All Result
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security

© 2022 Vital News - Vital News by Vital News.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In