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Why CBN is Funding Large Scale Cassava Production – Emefiele

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By Tony Obiechina, Abuja

The Governor of the Central Bank of Nigeria(CBN), Mr Godwin Emefiele said on Thursday, that the Bank decided to fund large scale production of cassava because it has the potential for employing over two million Nigerians.


Emefiele spoke at a meeting with State Governors of Cassava Producing States and Signing of the Memorandum of Understanding between Nigeria Cassava Growers Association and Large Scale Cassava Processors at the corporate headquarters of the CBN in Abuja.

“We place a high premium on cassava because the commodity can generally be used for different things along the value chain.
The value chain has enormous potential for employing over 2 million people in Nigeria if well harnessed, due to the diverse secondary products that it offers. 
“Some of the products include High Quality Cassava Flour (HQCF), Starch, Sugar Syrups & Sweeteners, Chips  for domestic livestock feed and for export to China, Ethanol/bio-fuels, High Fructose Cassava Syrup (HFCS), Fuel Ethanol (E10) as well as Animal Feed from cassava waste among others”.
The Governor stated that there were large corporations like Nestle, Flour mills, Promasidor, Unilever which require the secondary outputs from cassava such as starch, glucose, sorbitol etc as raw materials for the production of their final products. 
According to him, “we also have the companies whose responsibility is the processing of cassava to starch, glucose, ethanol etc as well as members of the Cassava farmers association. 
“The other very important stakeholder present here today are State Governors and their representatives whose primary responsibility is making land available particularly to our unemployed teaming youths to embrace cassava production and processing in Nigeria.   
“Our presence here today is therefore,  an indication of our commitment to revitalize cassava production and processing by encouraging private sector investors to participate in the Nigerian economy. Through this initiative, you will agree with me that employment opportunities can be boosted in Nigeria, and industrial output can be accelerated for the good of Nigeria. 
“The stakeholders in this gathering have all it takes to positively transform the status of cassava production and processing in Nigeria. I want to confirm in absolute terms the CBNs preparedness to reverse the current trend in line with our commitment to social investment by partnering with the major stakeholders towards developing a blueprint that would facilitate the development of Nigerias cassava value chain on a sustainable basis”.


Emefiele pointed out that the aim of bringing together all stakeholders in the value chain is to agree on a framework for modern production and processing of cassava by ensuring that “we identify and tackle all major challenges in the value chain from seedlings production, land clearing, planting, harvesting, processing, marketing and provision of extension services among others”.


Stressing the importance of cassava as an agricultural commodity the Governor recalled that participants during the Fourth International Cassava Conference held in Cotonou, Benin Republic in June 2018 agreed that cassava is currently the 4th most important food crop in the world, after maize, wheat and rice and is grown on over 24 million hectares in 105 countries in the world with Nigeria as the leading producer.

“Cassava represents one of the most important economic crops in the world. Today, the world market for the commodity is one of the most dynamic with the volume of production and foreign trade growing steadily. 
“Nigeria is the largest producer; producing about 53.0 million MT in 2018 but with a very low average yield of about 7.7 MT per hectare as compared to 23.4 MT and 22.2 MT per ha in Indonesia and Thailand respectively. 
“Statistics however, show that out of the 53.0 million MT of cassava produced in Nigeria annually; more than 90% is processed into food for human consumption whereas a significant industrial demand exists for the output of processed cassava, primarily as substitute for imported raw materials and semi-finished products. 
“We are particularly interested in the cassava value chain because it is in line with President Muhammadu Buharis economic diversification programme for Nigeria. 
“This is because economic diversification is an essential tool for national development and we are leaving no stone unturned towards repositioning Nigeria on the map of the world not just as the leading cassava producer but a processor as well. 
“Compared with any other country of the world, Nigeria has one of the best climate and land resources to produce and process sufficient cassava; good enough; not only for consumption, but also for industrial use and export as the country enjoys both absolute and comparative advantage in producing the commodity”, he added.


He pointed out that even though the nation was blessed with several varieties of cassava that could be explored to optimum potential, there was need to adopt improved varieties and practices that would  guarantee better yield, better processing efficiency, increased profit and improved standard of living for farmers. 
He said, to realise this goal, the CBN was holding consultations with the International Institute for Tropical Agriculture (IITA), Ibadan and the National Root Crops Research Institute, Umudike.

He also noted that aside from foreign exchange conservation, increasing cassava production was a necessity as starch, glucose, sorbitol and other products currently being imported proffers no future for the nation in the long-term, in view of the fact that Nigeria imports cassava derivatives valued at over $600m annually.

 He said it was on this premise that the CBN included cassava in the FX exclusion list to salvage the industry, encourage farmers to go back to their farms to boost jobs creation and increase output and improve the capacity utilization of our processing companies. 
Governors of Ekiti State, Dr Kayode Fayemi, his Ondo state counterpart, and the Deputy Governor of Ogun State attended the meeting.


Agriculture

Residents Groan Under Rising Tomato Prices, Seek Alternatives

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Some residents in Lagos State have expressed concern over the recent surge in the price of tomatoes, forcing many households to adopt alternatives.

The residents made their views known in separate interviews on Wednesday in Lagos.

A market survey showed that a 50kg basket of tomatoes now sells between N115,000 and N125,000, compared to between N35,000 and N40,000 recorded last month.

Olachi Igwe, a resident of Ago Palace, said the scarcity and high cost of tomatoes had disrupted her household’s meal plans.

“I contacted my usual vendor, but she said tomatoes were scarce and difficult to source.

“A small bowl we used to buy for between N3,500 and N4,000 now sells for as high as N6,000 to N7,000, when available.

“For now, my family will resort to palm nut stew (ofe akwu) until prices stabilise,” she said.

Another resident, Mercy Okeleye of FESTAC, said although her family prefers fresh tomatoes, rising prices have forced her to consider cheaper options.

“I cannot do without fresh tomatoes because of the taste, but I may have to buy broken ones, popularly called ‘esha’, which are relatively cheaper.

“I do not consider tomato paste a suitable substitute because it is not purely made from tomatoes,” she said.

Also speaking, Tope Babalola from Dopemu, said she might adjust her cooking methods if prices remain high.

“I have not bought tomatoes in over a month, but if the price is still high, I will use more onions and peppers.

“I will not resort to artificial additives; I prefer natural ingredients for my meals,” she said.

Joan Ogugua, another resident, said she had already switched to tomato paste to cope with the situation.

“I asked my son to buy tomato paste for our meals. I cannot justify spending excessively on fresh tomatoes when other basic needs must be met,” she said.

Also, Oge Ugwu, a civil servant at Lekki, said she would resort to cucumber stew with the recent price hike.

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Agriculture

Tomato Farmers Predict Steady Price Hike from May

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The Tomatoes Growers and Processors Association of Nigeria (TOPAN) has predicted a steady increase in the price of the produce between May and June 2026.

The Kaduna State Chairman TOPAN, Rabiu Zuntu, disclosed this in an interview recently in Lagos.

Zuntu noted that although there is no particular time for tomatoes planting season up north, seasonal weather variations can affect the production of the produce.

“Although we can plant tomatoes all-year-round, we cannot assure quality harvest all-year-round.

“Some farmers are harvesting now, while others are transplanting, and others are harvesting.

“Tomatoes are still available for sale but the price of the produce is gradually on the increase.

“Come May/June, the prices of tomatoes will be very expensive, so now is a good time to stock up the produce. There’s always a scarcity within that period.

“This is because of the nature of the weather in the north around that period, the weather is usually very hot and tomatoes cannot resist such hot temperature,” he said.

Zuntu said the price of tomatoes have started rising up in the north.

“A 50kg rafia basket of tomatoes sells from N20,000 as against N7,000 to N10,000 that was sold earlier in the year.

“While a crate of tomatoes up north is sold between N10,000 and N15,000 as against N5,000 to N6,500 sold earlier in the year.

“In most part of Kano State, where there is bumper harvest, they are rounding off their harvest. So, tomato is not that available there and most buyers have turned to where they can find it now, mostly within Kaduna State and some parts of Plateau State.

“So, that’s why the supply has decreased and the tomato supply and cost is determined by the law of demand and supply,” he said.

A 50kg basket of tomatoes in Lagos, at the moment, sells between N40,000 and N60,000 depending on the size and quality.

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Agriculture

Lack of Irrigation Facilities Crippling Dry Season Farming in Oyo

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The Smallholder Women Farmers Organisation in Nigeria (SWOFON), Oyo State chapter, has said that the lack of irrigation facilities had become a major obstacle to dry season farming in the state.

The Chairperson of SWOFON in Oyo State, Atinuke Akinbade, said this in an interview in Ibadan on Monday.

Akinbade, who shared the experiences of women farmers in the state during the 2025 dry season, said that inadequate access to water for irrigation significantly affected the performance of many farmers during the period.

“It hindered many older farmers from participating in dry season farming and also prevented younger farmers from doing as much as they could in cultivating large acres of land,” she said.

Akinbade explained that farmers who managed to plant during the season struggled to access sufficient water to irrigate their farms, a situation worsened by the effects of climate change.

“Many farmers who depended on streams and wells to water their crops suffered major setbacks because those sources could not provide enough water for irrigation.

“Some farmers had to resort to buying water from commercial water tankers, which increased the cost of production, while at times it was even difficult to get water from the tankers,” she said.

The SWOFON chairperson warned that failure to address the problem could worsen food insecurity in the coming months.

“Even now, rainy season farming has not fully commenced because of the irregular rainfall pattern.

“This is a double burden, and if nothing is done, it may lead to serious hunger later,” she said.

Akinbade, however, acknowledged that the government had organised training for members of the association on home gardening.

She, however, said that little support was provided to address the challenges of dry season farming.

The chairman said that the home garden support package given to members consisted mainly of seedlings and one sprayer.

“They gave us two packs each of maize and pepper seeds, with six seeds in each pack, as well as one sprayer, so that we can grow food for household consumption,” she said.

Earlier, Oluwatoyin Oyedeji, SWOFON Coordinator in Oyo East, explained the severe hardship members of the organisation experienced in sourcing water for irrigation.

“Many farmers are already counting their losses because water was not available to irrigate their farms.

“Those who depended on streams and brooks were badly affected because many of them dried up, while the few that still had water had so little that farmers had to dig deeper into the ground in search of more,” Oyedeji said.

In the same vein, the Women Leader for farmers in Saki East, Musiliu Ashiru, said the absence of irrigation facilities also hampered dry season farming in her area.

According to her, many farmers still engaged in dry season farming have had to pay for water to keep their crops alive.

“Many of them buy water from the dam here to irrigate their crops. It has not been easy for them this year,” Ashiru said.

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