Business
Edo Discovers New Oil
The Edo State Governor, Mr. Godwin Obaseki, has described fish production as the ‘new oil’ of the Nigeria’s agricultural subsector.
Speaking during the Edo State Fisheries Stakeholders’ meeting, in Benin City, Obaseki who was represented by the Commissioner for Agriculture and Natural Resources, Richard Edebiri,said his administration through the intervention of the Central Bank of Nigeria (CBN)’s Accelerated Credit Scheme (CACS) Fund is transforming the state into a fish-farming hub.
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The Governor said fish farmers in the state have been benefiting from several of such interventions, with the first batch of beneficiaries for the CBN’s input support funding to be drawn from Uteh Fish Farmers.
He urged participants to take advantage of the opportunities from the ease of doing business reforms in the state, adding that investors from across the world have been trooping into state to benefit from his administration’s transformational agricultural policies.
Obaseki revealed that the purpose of the stakeholders’ meeting was to bring together all key players in the industry to a roundtable with a view to addressing the challenges bedeviling the sector and identify the role and responsibilities of government to move it forward.
Director, Ministry of Fisheries, Mr. Friday Ehimare, said the state government has decided to key into the fish-farming programme because it is the highest growing business in the agricultural sub-sector in Nigeria.
Earlier, the CBN representative, Mr. Agada Omonu, noted that the Federal Government through the apex bank intends to cause a turnaround of the non-oil sector and protect the economy through its Anchor Borrowers Programme (ABP) under its development finance strategy.
He assured that the government would continue to support operators in the agriculture sector, in order to create job opportunities and preserve foreign exchange revenue.
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