CBN Governor Tasks States to End $500m Palm Oil Imports
The Central Bank Governor, Mr. Godwin Emefiele, Tuesday urged state governors to do everything to end the importation of palm oil which he said has gulped $500 million.
Emefiele said this during the launch of Edo Oil Palm Programme and the Plantation Owners Forum of Nigeria Oil Palm Discourse-Focus in Benin City.
He said state governors should be able to provide land to boost oil palm cultivation.
He put Nigeria’s total domestic palm oil demand and consumption at 2.5 million as total production capacity of only 1.25 million metric tonnes.
He called on the investors in palm oil palm plantation to go to Edo state.
The CBN Governor said the apex bank will be providing N69 billion funding facility required for the ESOPP, adding that this was CBN’s commitment tp oil palm sector in the state.
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