Mr. Godwin Emefiele Central Bank of Nigeria (CBN) Governor, yesterday in Dutse, Jigawa State said the apex bank is ready to partner with the Lee Group and Jigawa State government to ensure the establishment of a mulch-billion naira white refined sugar cane factory that will generate N60 billion yearlyy in the state.
Emefiele who spoke during the foundation laying ceremony of 12, 000 hectres of land in Garin Chiroma in Gagarawa Local Government Area of the state, however, regretted that Nigeria spends over $100 million yearly for the importation of sugar which can be grown in the country.
“Nigeria today spends over $100 million importing sugar in the country whereas we can grow sugar Nigeria,” he lamented.
He commended the Lee Group for investing in sugar production in Nigeria, saying “by this initiative, you have helped in joining the Federal Government of Nigeria towards ensuring that we achieve our goal of diversifying away our economy from oil into a very important sector which is called agriculture.
“You have touched the heart of Nigerians; you have touched the heart of the president; you have touched the heart of the Federal Government because through the clarion call of the president, you have answered that call and I can assure you that you will receive the needed support from the government.
“On our part as the Central Bank of Nigeria, I appeal to you to come over to us in the Central Bank, whatever support you need to get this project on ground, so that in the next couple of months we can come back and launch the programme, that support I assure you today, you will get from Central Bank of Nigeria.”
Emefiele said sugar production is part of CBN’s core aspect of the anchor-borrower programme, while commending the Lee Group and Jigawa state government to have keyed into large-scale sugar production.
He added that the CBN has concluded plans to support small farmers who are into sugar cane farming. “We will support not only Lee Group; we will also support other little farmers that are involved in sugar-cane planting so that as the farmers plant your sugar-cane, the Lee Group can also buy them off the farmers.
“Through that means, we have provided jobs for our people; and we have increased the wealth of our people. That is the anchor programme of the Federal Government and I want to thank all of you for being here today,” he said.