HERITAGE BANK, CBN ADOPT NOVEL APPROACH TO BOOST WHEAT PRODUCTION CAPACITY …To add 750, 000MT via rain-fed cultivation, reduce annual import by 60%

In a bid to meet high demand amid poor production capacity of wheat, the Central Bank of Nigeria and Heritage Bank Plc have adopted a novel but more robust approach to boost local production and reduce dependence on importation. The partnership is basically to consummate Wheat Seed Multiplication Project in Jos as part of the CBN’s Brown Revolution Initiative, the apex bank’s wheat value chain intervention to address the challenges in Wheat value chain, thereby increasing the domestic production of wheat and closing the wide supply gap in Nigeria agricultural space. The novel initiative that will boost wheat production annually is being process via rain-fed cultivation, as this approach is actually the first ever wheat programme that it would be planted in wet season. Meanwhile, as part of the pilot phase of the initiative, Heritage Bank financed the first ever large scale rain-fed wheat production in Nigeria. Speaking at the flag-off ceremony for the Brown Revolution Initiative, which was the pilot project and also declare the 2021 dry season farming open in Jos on Tuesday, the Deputy Governor, CBN, Edward Adamu stated that the short-term benefit is the addition of about 2, 000 metric tonnes (MT) of high yield seed variety to the national wheat seed stock which is 20, 000MT currently.
 
According to him, this effort has the potential to add about 750, 000MT of wheat annually through rain-fed cultivation. He noted that estimated that only one per cent or 63,000MT of wheat, out of the five to six million metric tons of wheat consumed annually was produced locally, whilst with the Brown Revolution and in partnership with Heritage Bank and others, CBN seeks to eliminate dependence on imported wheat by 60%. The MD/CEO of Heritage Bank; Ifie Sekibo who frowned at that the country’s increased wheat importation bills affirmed that this strategic partnership would help reverse the trends and upscale domestic production of wheat to close the wide supply gap in the agricultural space. As part of the bank’s efforts to support the high yield seed variety to national wheat seed stock, Sekibo represented by the Head Agricbusiness and Export, Ugonwa Ikegwuonu explained that the bank set out to cultivate a total of 1, 000 hectares of farm land at the end of the year with at least producing about 5tonnes of wheat seeds per hectare in terms of yield.
 
“We set out to cultivate a total of 1,000 hectares of farm land but at the end of the day because of time constraints & other challenges, we have been able to cultivate 357 hectares. The crops according to the project manager are doing very well & in few weeks they will be ripe for harvest, in fact part of the farm is already ripe for harvest. So we set out with this partnership with two anchors which we call service providers,” he further explained. Speaking during his welcome address, the Governor of Plateau State, Simon Lalong affirmed that Nigeria was on the path of Agricultural food sufficiency with the ‘Brown Revolution’ the rain-fed wheat would help curtail the $2billion spent on importation of wheat. He further noted that the target of his administration was to attain zero-importation of wheat, attain wheat sufficiency in the economy and commence exportation to raise foreign reserve.
 
President of Wheat Farmers Association of Nigeria, Salim Muhammad stated that they have good understanding with Heritage Bank for its proactive approach to the objective of the rain-fed wheat production in Agriculture value chain. He assured, “I assure you that at the end of this programme, by next season, it will be a different scenario/story because we are now doing on a very small scale but I’m sure by next season, the real revolution will start off and it will be seen all over Nigeria. Because, currently we are producing wheat in 16 wheat producing states. By the coming of this wheat dry season, seeds available and practicable; we are going to expand our scope to cover other areas that can produce wheat during the dry season. I’m not saying that we are going to cover the whole 36 states of the Country, but I assure you, by next season we will be thinking of about 20 to 27 states that we have.”
 
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https://www.nairaland.com/6844644/heritage-bank-cbn-adopt-novel
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https://www.primebusiness.africa/cbn-heritage-bank-target-60-reduction-of-yearly-wheat-imports/
https://www.thenigerianvoice.com/news/303551/heritage-bank-cbn-adopt-novel-approach-to-boost-wheat-produ.html

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L-R: Dr. Sophia Horsefall, Corporate Relations Manager, SPDC; Osepiribo Ben-Willie, Executive Director of Heritage Bank and Ivy Davies-Etokakpan, President of Eveafrique News at the Women Must Conference 2.0, titled “The Woman and Her Must” organised by The Kilali Tribe held in Port Harcourt.

PRESS RELEASE

Heritage Bank is agent for actualisation of SDG 5-Gender Equality, women empowerment – Kilali Tribe

05/12/2022:  Heritage Bank has been commended for being an agent for the actualisation of Sustainable Development Goals SDG 5 – Gender Equality, as well women empowerment for socio-economic growth.

This was stated by Kilali Tribe at the Women Must Conference 2.0, titled “The Woman and Her Must” organised by The Kilali Tribe which held in Port Harcourt.

The Kilali Tribe is an association of prolific Rivers and Bayelsa State women who come together to support themselves through peer learning, capacity-building initiatives, networking, and mentoring. Also, provide similar structured support to other women within the community.

Speaking at the event, Ivy Davies-Etokakpan, President of Eveafrique News who also member of Kilali Tribe, commended Heritage Bank for taking the lead in championing the empowerment of women over the years in the country.

“We are proud of Heritage Bank for making us soar while promoting women empowerment. Over the years, Heritage Bank has proved to be an agent for the actualisation of achieving SDG 5 – Gender Equality, as well women empowerment,” she said.

The Executive Director of Heritage Bank, Osepiribo Ben-Willie affirmed the need to deliberately adopt measures to deepen women empowerment to drive the nation’s socio-economic growth.

In her closing remarks, Osepiribo Ben-Willie hinted that the Conference had leveraged Kilali Tribe to come up with blueprint in promoting women’s equal right to socio-economic empowerment, as this is at the heart of the SDG5-Gender Equality.

The Executive Director of Heritage Bank affirmed that women all over have proved to be huge economic asset in the act of creation of a new sustainable economy, hence gender inclusiveness and women’s empowerment must be taken as a priority.

According to her, after evaluating the bottlenecks restraining the Kilali Tribe and other women to attain the platforms to grow professionally and thrive in all spheres of t heeconomy, it is a call to action to “tackle the challenges of gender disparity and lack of inclusiveness that have continued to impede the expected rapid economic empowerment that could help unshackle our women’s entrepreneurial prowess and foster more representation for women and girls at decision-making forums and Board levels in comparison to their peers in the developed countries.”

Ben-Willie added that for women to emerge economically and socially as independent there was an urgent need to tackle psychological, social and skill constraints.

Collaborating Ben-Willie’s, the Co-founder and former Group Executive Director of Sahara Group, Tonye Cole, advocated for women and girl inclusiveness across all sectors of the society, including economic participation and decision-making.

According to him, the country should be conscious of gender equality, whilst emphasising that dealing with the psychological constraint will enable women to be balanced emotionally.

He stressed the need for organisation to leverage women positions on Board level, as they are resourceful and could enormously impact to the growth of any society.

Cole also charged women in being deliberate to position and champion course that would put them at the forefront of making difference. //END.//

Ozena Utulu, Ag. Group Head, Corporate Communications