{"id":66593,"date":"2018-12-03T20:13:51","date_gmt":"2018-12-03T19:13:51","guid":{"rendered":"https:\/\/arewa.ng\/?p=66593"},"modified":"2018-12-03T20:14:44","modified_gmt":"2018-12-03T19:14:44","slug":"emefiele-21bn-saved-from-food-importation","status":"publish","type":"post","link":"https:\/\/arewa.ng\/?p=66593","title":{"rendered":"Emefiele: $21bn Saved From Food Importation"},"content":{"rendered":"<div><span class=\"ds-1col file file-image file-image-jpeg view-mode-embedded centered clearfix block-story-object block-story-object-resource block-story-object-resource-image\"><br \/>\n<span class=\"block-story-object-asset\"><img decoding=\"async\" class=\"media-element file-embedded\" title=\"Godwin Emefiele\" typeof=\"foaf:Image\" src=\"http:\/\/arewa.ng\/wp-content\/uploads\/2018\/09\/CBN-Revokes-Licences-Of-182-Financial-Institutions.jpg\" alt=\"\"><\/span><br \/>\n<\/span><\/p>\n<p><span class=\"container container-pod container-pod-short\"><span class=\"adunit-parent hide block-module block-module-ad block-module-ad-300x250\"><span class=\"block-module-image-wrapper\"><\/span><\/span><\/span><\/p>\n<p>Godwin Emefiele, Governor of the Central Bank of Nigeria (CBN) has said $21 billion was saved from the cut in food importation between January 2015 and October 2018.<\/p>\n<p>The governor said this on Friday at the annual bankers\u2019 dinner held in Lagos.<\/p>\n<p>According to Emefiele, Nigeria\u2019s monthly food import bill fell from $665.4million to $160.4million between 2015 and 2018.<\/p>\n<p>He said the reductions in food import were recorded on rice, fish, milk, sugar and wheat, adding that the policy would be maintained.<\/p>\n<p>His words: \u201cNoticeable declines were steadily recorded in our monthly food import bill from $665.4million in January 2015 to $160.4million as at October 2018; a cumulative fall of 75.9 per cent and an implied savings of over $21bn on food imports alone over that period.<\/p>\n<p>\u201cMost evident were the 97.3 per cent cumulative reduction in monthly rice import bills; 99.6 per cent in fish; 81.3 per cent in milk; 63.7 per cent in sugar, and 60.5 per cent in wheat.<\/p>\n<p>\u201cWe are glad with the accomplishments recorded so far. Accordingly, this policy is expected to continue with vigour until the underlying imbalances within the Nigerian economy have been fully resolved.\u201d<\/p>\n<p>While speaking on development finance, he said that in continued recognition of its role as an agent of development and aimed at ensuring self-sufficiency to reduce Nigeria\u2019s excessive dependence on imports, the CBN invigorated its development finance activities.<\/p>\n<p>\u201cWe have maintained a particular focus on supporting farmers, entrepreneurs as well as small and medium scale businesses, through our various intervention programmes such as the Anchor Borrowers Programme, Nigeria Incentive-Based Risk Sharing System for Agricultural Lending and the National Collateral Registry,\u201d he added.<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Godwin Emefiele, Governor of the Central Bank of Nigeria (CBN) has said $21 billion was saved from the cut in food importation between January 2015 and October 2018. The governor said this on Friday at the annual bankers\u2019 dinner held in Lagos. According to Emefiele, Nigeria\u2019s monthly food import bill fell from $665.4million to $160.4million [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":46821,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[3],"tags":[2197,6405],"class_list":["post-66593","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-cbn","tag-godwin-emiefele"],"jetpack_publicize_connections":[],"_links":{"self":[{"href":"https:\/\/arewa.ng\/index.php?rest_route=\/wp\/v2\/posts\/66593","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/arewa.ng\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/arewa.ng\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/arewa.ng\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/arewa.ng\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=66593"}],"version-history":[{"count":0,"href":"https:\/\/arewa.ng\/index.php?rest_route=\/wp\/v2\/posts\/66593\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/arewa.ng\/index.php?rest_route=\/wp\/v2\/media\/46821"}],"wp:attachment":[{"href":"https:\/\/arewa.ng\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=66593"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/arewa.ng\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=66593"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/arewa.ng\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=66593"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}