The Central Bank of Nigeria (CBN), on Thursday, said Nigeria’s overreliance on oil in a mono-economy always placed the country on the edge especially when there is fluctuation in the prices of oil globally.
Governor of CBN, Godwin Emefiele who stated this in Asaba during the opening of a two-day CBN Fair for stakeholders in Delta, said the bank has the mandate to grow the economy in a sustainable manner.
Emefiele who was represented by the Director, Corporate Communications of CBN, Osita Nwanisoba, said CBN various intervention programmes were geared towards the diversification of the economy from oil.
He said: “What the CBN is doing is to diversify the economic base of this country. We are saying that there are so many and so much that we can do.
“We have agriculture, we have manufacturing. So, why can’t we deal with these things so that we will be able to produce what we eat and eat what we produce?
“These are sectors that will grow the economy, create jobs, ensure that there is export so that we will be able to moderate our exchange rate and earn even more foreign exchange”.
He said the fair was aimed at sensitising citizens on the interventions of CBN for them particularly graduates to leverage on to become entrepreneurs.
Earlier in his welcome address, the branch controller of CBN, Asaba, Mr Godwin Okafor listed some of the interventions as Real Sector Financing and Interventions, Payment Systems Initiatives, Consumer Protection, Clean Naira Note Policy, Financial Inclusion, Consumer Rights, TIES, 100 for 100 among others.
Delta State Commissioner for Agriculture, Mr Julius Egbedi who also spoke at the ceremony, hailed CBN support through its various programmes in the state, adding that Delta farmers have benefited immensely from CBN schemes, especially the Anchor Borrowers’ Programme.
Egbedi who was represented by the Permanent Secretary in the ministry, Mr Ben Agamah, called for continued partnership in creating more employment for the people of Delta State.
Ojelabi, the publisher of Freelanews, is an award winning and professionally trained mass communicator, who writes ruthlessly about pop culture, religion, politics and entertainment.
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