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CBN Intervention: 151,000 Cotton Farmers Target 200,000 MT Productions

Published

6 years ago

July 31, 2019

The National Cotton Association of Nigeria (NACOTAN) has said that with the ongoing Central Bank of Nigeria (CBN) intervention on cotton production through the Anchor Borrowers Program (ABP) which covered about 151,000 farmers, at least 200,000 metric tons yield is expected.

The National President of NACOTAN, Mr Anibe Achimugu who disclosed this to Tribune Online in Abuja, said the CBN had also empowered the ginning companies to off-take the cotton from the farmers immediately it is harvested.

“The federal government through the Central Bank of Nigeria has intervened in cotton production directly, and when I say directly, I mean through the Anchor Borrowers Program, which has now basically captured about 151,000 farmers where the CBN finance inputs for the farmers.

“So all the recommended inputs and the quantities have been released for the farmers to go out and plant, and farmers have planted and they are caring for their farms at the moment.

“We would say that the intervention is holistic because part if the problem in the production is who would buy, what sort of price will I get, but CBN is looking at the entire value chain, so now that farmers are producing, they (CBN) are going to finance the cotton ginning companies that process the raw cotton for the textile people, so the ginning companies will now have the funding they need to buy from the farmers.

“A meeting will be held between the ginning companies and the cotton farmers representatives and a Memorandum of Understanding would be signed on the price the cotton would be sold”, Achimugu said.

On quality seed, Achimugu said the CBN provided enough improved seed for the farmers to produce enough cotton that would Service the existing textile companies in the country.

“As I said, the intervention is holistic, every single requirement to farm one hectare of cotton have been addressed by the CBN including our poor seed situation. So the poor seed situation has been addressed with the seed that has been brought in through this program, so seed is no longer a challenge, we have brought in excess.

“My belief is that the production of this year, the existing textile industries will not be able to take all. Yes, part of the challenge of the textile companies was that they were not getting enough cotton, so but with this intervention, they would get the quantity of cotton that they need sustainably”.

Furthermore, he said “this Anchor Borrowers Program has helped us to refocus and be able to put our system and structures in place, which means that we can now be financially sustainable, and we are now able to provide the necessary extension services.

“We are expecting nothing less than 200,000 metric tons from this CBN intervention if you compare it to the last year of 80,000 metric tons”.

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Nigeria’s Historic Bid for the 2030 Commonwealth Games: A Call for National and Global Support

Published

6 days ago

September 30, 2025

The Gleamer

Joel Ajayi

Nigeria is poised to make history as it seeks to host the Centenary Commonwealth Games in 2030, a monumental opportunity that promises to transform the nation’s economy, infrastructure, and global standing.

More than a sporting spectacle, the Games would serve as a catalyst for development across multiple sectors, leaving behind a legacy of national pride and sustainable growth.

The benefits of hosting the Games extend far beyond the sports arena. Nigeria stands to gain both empirical and non-empirical advantages, with direct, indirect, and induced impacts that will touch every corner of society. Infrastructural development will take center stage, with new facilities such as indoor sports halls, conference centers, and improved road networks reshaping urban landscapes while strengthening the nation’s capacity to host future international events.

Economic growth is another significant dividend. Over 10,000 jobs are expected to be created, spanning construction, facility management, event planning, and tourism services.

The hospitality industry will undergo major improvements as hotels and resorts are upgraded to meet international standards, while local restaurants, lounges, and tourist attractions will see a surge in patronage from international visitors. Small and medium enterprises, particularly in the transport, finance, and food service sectors, will become some of the greatest beneficiaries, as the Games generate new demand and expand opportunities for local businesses.
The Commonwealth Games will also accelerate the growth of Nigeria’s sports industry.

Investments in training facilities, coaching, and talent development will inspire a new generation of athletes, ensuring long-term benefits that extend beyond 2030, a major focus of the President Bola Tinubu administration.
At the same time, the process of preparing for the Games will create opportunities for Nigerians to learn new crafts, acquire technical skills, and engage in global-standard event management, thereby strengthening human capacity and innovation across industries.

Mallam Shehu Dikko, Chairman of the Nigeria Sports Commission, and Hon. Bukola Olopade, the Director General, have been widely recognized for their tireless and visionary leadership in repositioning Nigeria’s sporting sector.

Their commitment to facilitating infrastructural development and strengthening grassroots sports development has laid the foundation for Nigeria’s bold bid to host the 2030 Commonwealth Games. Under their leadership, the NSC is fostering strategic partnerships and driving innovation in sports administration, they have demonstrated the nation’s readiness to stage an event of such global magnitude.

Beyond the tangible gains, the hosting of the 2030 Commonwealth Games carries profound symbolic value. It would be a moment of unity and pride, a chance for Nigeria to showcase its cultural richness, resilience, and excellence to the world.
As a centenary edition, the Games would stand as a historic milestone not just for the Commonwealth but for Nigeria itself, cementing its place on the global stage as a capable, ambitious, and forward-looking nation.

The gains from hosting the Commonwealth Games can never be undermined or overemphasized. This is Nigeria’s time to step forward and show the world our resilience, and excellence. We call on every Nigerian, across sectors and communities, to support this noble aspiration.

Nigeria’s pursuit of the 2030 Commonwealth Games is a vision for transformation, a blueprint for national development, and a legacy project that will inspire generations to come.

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