BOI acting boss says cassava processors are well assisted

The Bank of Industry

The Bank of Industry (BOI) has said the processing of High Quality Cassava Flour (HQCF) embarked upon by the Federal Government during the last administration of former President Goodluck Ebele Jonathan has been well supported across the six Geo political zones of the federation to ensure the needed processed quantity to millers for 10% inclusion to all bakeries.

Responding to question from Food Farm News at the just concluded Daily Trust Agric conference held at Abuja, the Acting Managing Director, Mr. Waheed Olagunju stated that the bank has assisted many processors across the geo political zone towards making available HQCF to millers for further inclusion into wheat related bakeries to reducing its content with 10% cassava flour so as to reduce billions of naira monthly incurred on importation.

 The BOI mandate according to Mr. Olajunju was to make loan available to agro processing entrepreneurs in the agricultural production that have comparative advantages over others saying assistance has been given to cassava processors across the six geo political to meet the demand of millers especially the HQCF inclusion by 10% to reduce wheat content in bread and other confectionery.

This position of the BOI  may not in any way conform with the cassava farmers and processors’ stand as they have demanded the where about of 2.1 billion deposited into the bank for the purpose of facilitating 10 million naira for each processor towards making available  HQCF to master bakers to achieve cassava bread. 

The Federal government during the last administration has distributed high quality cassava cuttings to farmers for planting towards substituting 10% wheat flour by the time they are harvested, but as we speak many of them could not be processed due to none assistance from the BOI thereby leading to post harvest loss for many farmers as there are no off takers.

But this allegation was knocked out by the BOI boss saying assistance have been given to cassava processors across the six geo political zone of the federation saying the support was still an ongoing thing for all the processing clusters across the country.