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  • Updated: June 16, 2022

CBN Disburses N21 Billion To Boost Cocoa, Sesame Exports

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Felicia Abisola  Olamiji
Felicia Abisola Olamiji

  A graduate of English Language from Olabisi Onabanjo University, passionate about learning new...

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N21 billion has been disbursed by the Central Bank of Nigeria to boost the production and export of cocoa and sesame seeds.

This was disclosed by Godwin Emefiele, the CBN Governor, at the last Monetary Policy Committee, while reviewing the performance of its intervention schemes targeted at stimulating productivity in agriculture, manufacturing, industries, energy, and infrastructure, healthcare, exports and small businesses.

“The bank released the sum of N21bn under the Export Facilitation Initiative, for three projects in domestic production and value addition of cocoa and sesame seed", he said

“This intervention is targeted at further expansion of the economy’s non-oil export basket towards improving foreign exchange revenue earnings for the country.”

The commencement of the EFI was approved by the CBN in a circular to all banks in 2019 to complement the government’s efforts to engender growth in the non-oil sector of the economy as well as enhance foreign earnings and employment generation.

 

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Felicia Abisola  Olamiji
Felicia Abisola Olamiji

  A graduate of English Language from Olabisi Onabanjo University, passionate about learning new...

More From this Author

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