The Governor, Central Bank of Nigeria (CBN), Mr Godwin Emefiele, has assured genuine investors of cooperation and support toward self-sufficiency in local production of essential goods and the economic diversification drive.



The assurance is contained in a statement made available to newsmen on Sunday in Abuja by the bank’s Acting Director, Corporate Communications, Mr Isaac Okorafor.

According to the statement, Emefiele said this during the facility tour of the newly completed Sunti Golden Sugar factory in Sunti, Niger.

The CBN governor said “the bank invested about N26 billion in the project in order to encourage import substitution and backward integration strategy.

“Such investments are geared toward self-sufficiency, generate employment and create wealth.”

Emefiele urged small scale sugarcane farmers in the area to leverage on the presence of the Sunti Golden Sugar factory



to boost production, as the company would now buy all their produce.

Also, the Chairman of the Flour Mill of Nigeria Group, owners of Sunti Golden Sugar Company, Mr John Coumantaros, expressed appreciation for the uncommon support which the CBN gave the company.

He said the CBN’s support had led to the scheduled completion of the project.

Coumantaros said the N45 billion sugar-refining project was expected to create over 15,000 jobs, including 3,500 direct jobs and 3,000 small scale out-grower farmers.

According to him, the sugar company will save over 50 million dollars in foreign exchange for the country annually.

He added that “Nigeria presently produces 1.7 million tonnes of raw sugar which is about two per cent of her needs whereas countries like Benin Republic, Senegal and Mali currently produce 26 per cent, 48 per cent and 28 per cent of their needs.

“As such, the planned 100,000 tonnes of raw sugar to be produced by Sunti Golden Sugar Company will augment the supply gap, create jobs and save foreign exchange for the country.

“This is in addition to generation of 10 megawatts of electricity , animal feeds and fertiliser from the sugarcane residue.”

In his remarks, the Niger Governor, Alhaji Abubakar Bello, commended the management of the CBN for providing the much-needed fund for the projects.

He urged Nigeria Flour Mills to fulfill its obligations to the host community by providing access roads, boreholes, electricity and health facility.

According to him, the project is expected to be inaugurated in May 2016 by President Muhammadu Buhari. (NAN)

http://www.financialwatchngr.com/2016/04/11/economic-diversification-cbn-will-invest-create-jobs-wealth-emefiele/

Let's keep working . It's not time for talk , yet.

THEWRITERSMIND:
The Governor, Central Bank of Nigeria (CBN), Mr Godwin Emefiele, has assured genuine investors of cooperation and support toward self-sufficiency in local production of essential goods and the economic diversification drive.



The assurance is contained in a statement made available to newsmen on Sunday in Abuja by the bank’s Acting Director, Corporate Communications, Mr Isaac Okorafor.

According to the statement, Emefiele said this during the facility tour of the newly completed Sunti Golden Sugar factory in Sunti, Niger.

The CBN governor said “the bank invested about N26 billion in the project in order to encourage import substitution and backward integration strategy.

“Such investments are geared toward self-sufficiency, generate employment and create wealth.”

Emefiele urged small scale sugarcane farmers in the area to leverage on the presence of the Sunti Golden Sugar factory



to boost production, as the company would now buy all their produce.

Also, the Chairman of the Flour Mill of Nigeria Group, owners of Sunti Golden Sugar Company, Mr John Coumantaros, expressed appreciation for the uncommon support which the CBN gave the company.

He said the CBN’s support had led to the scheduled completion of the project.

Coumantaros said the N45 billion sugar-refining project was expected to create over 15,000 jobs, including 3,500 direct jobs and 3,000 small scale out-grower farmers.

According to him, the sugar company will save over 50 million dollars in foreign exchange for the country annually.

He added that “Nigeria presently produces 1.7 million tonnes of raw sugar which is about two per cent of her needs whereas countries like Benin Republic, Senegal and Mali currently produce 26 per cent, 48 per cent and 28 per cent of their needs.

“As such, the planned 100,000 tonnes of raw sugar to be produced by Sunti Golden Sugar Company will augment the supply gap, create jobs and save foreign exchange for the country.

“This is in addition to generation of 10 megawatts of electricity , animal feeds and fertiliser from the sugarcane residue.”

In his remarks, the Niger Governor, Alhaji Abubakar Bello, commended the management of the CBN for providing the much-needed fund for the projects.

He urged Nigeria Flour Mills to fulfill its obligations to the host community by providing access roads, boreholes, electricity and health facility.

According to him, the project is expected to be inaugurated in May 2016 by President Muhammadu Buhari. (NAN)

http://www.financialwatchngr.com/2016/04/11/economic-diversification-cbn-will-invest-create-jobs-wealth-emefiele/

Please someone should explain the bolded part for me. Ha! What kind of country is this sef

all we hear is *will*......

We haff tire o

Allwility:


Please someone should explain the bolded part for me. Ha! What kind of country is this sef

Maybe through CSR. This is what happened when the government relegates his responsibility to companies.

Allwility:


Please someone should explain the bolded part for me. Ha! What kind of country is this sef

The ND people have been doing it for ages so stop asking for explanation in 2016 bros. Even though I find it wierd that a governor will lobby CBN to release funds to private hands in order to gain one or two things from them, it didn't start today.

If we can wait for white man A.K.A foreign investor to help us tame bush meat for local production i am not surprised at our sugar production.

duduade:
all we hear is *will*......

We haff tire o

Abi o my fellow countryman. It's always we will never seen we have.

Sibrah:
The ND people have been doing it for ages so stop asking for explanation in 2016 bros. Even though I find it wierd that a governor will lobby CBN to release funds to private hands in order to gain one or two things from them, it didn't start today.

You can ask a company to fulfil its CSR by providing access roads OR boreholes OR electricity OR healthcare facilities and not tell them to provide access roads AND boreholes AND electricity AND healthcare facilities.

when una don employ una plpp for CBN finish...

believe these crooks at your own peril .

Will will will!!!! When will Buahri gov commence work?

Is obvious these ppl "Buharis" never had anything upper floor before invading office.

"Nigeria's government" and the verb "to do"

And who approves n monitor all these investments

Nice innovation

I will do this

Eye wheel do dat

Nigerians are the most patient people on earth sha.

Imagine since 1960 its been stories, stories and more stories!

I am personally tired of waiting o

victorazy:
Will will will!!!! When will Buahri gov commence work?

this is cbn not the Federal government

'I will, we will' have never ceased from their deceitful lips. the same word they used on us to get our votes. Soon cbn boss will deny saying this 'will' just like his mentor did.

can we trust u with d jobs

Good

shaddoww:
this is cbn not the Federal government

Cbn under Federal Republic of Congo abi?

Who appointed its governor?

When will the Nigerian govt via the CBN extend such kind of support to Innoson who has already set the ball rolling? Haaaaaa.... I get it
HE IS AMONG THE VERY MUCH TAUNTED 5%!

Talk talk talk and talk no action

FlourMills of Nigeria Plc makers of Golden Penny Product.......Biggest Food Company in Ngeria and Africa at large.....Owner of the biggest milling site in the world with production of 8,000metric tonnes flour per day.

Will this will that no action

Ok

Allwility:


Please someone should explain the bolded part for me. Ha! What kind of country is this sef

Nigeria is ruled by INCOMPETENT idiots

I was there life and direct.

Kenmoris22:
Will this will that no action

read before commenting. it will be commissioned may, 2016 next month, not 2019.