What Aba can do to Nigeria’s economy – CBN

Imanuel Jannah
By Imanuel Jannah June 22, 2017 19:37

The Central Bank of Nigeria has said that Aba, the commercial city of Abia state, stands a good chance of turning around the economy of Nigeria and making it great again through the ingenuity of the artisans in the city.

The acting director, public communications of the bank, Mr. Isaac Okorafor who stated this in Umuahia, said the CBN was willing to help Aba achieve that status.


According to Okorafor, Aba has the capacity to return the country back to its production time like in the 1960s, saying that the Centrak Bank of Nigeria is working hard to diversify the economy of the country from being a mono-economy to diversified economy.

Okorafor, who spoke at sensitization sessions for the bank’s intervention program for agriculture, SMEs, traders and others in Aba and Umuahia, said the apex bank was ready to support Aba traders to move to engage in production so as to improve the country’s economy.

He noted that the mood of the country which is in an economic recession warrants calls of those who have been engaged in only trading to move to production as the country cannot survive on importing everything.

“The economic recession which has bedeviled the country for some time is a good sign and a call for us to find a way out from our present predicament, as we can no longer depend on imported goods for our survival.

“Aba has the greatest chance to make Nigeria great again through the ingenuity and innovative nature of the people in that commercial city. The economic recession which has hit our country is a good pointer that we need to do more to move out from the position we have found ourselves.

“The CBN is ready to stand by the traders and producers in Aba so that they can go into production as it is a shame that we are importing everything including tooth picks which we can conveniently produce here even for export”, Okorafor said.

“I can tell you that after speaking with traders in Ariara International market, they were very enthusiastic and are now ready to go into production of most of the goods they import for sale”, Okorafor said.
Okorafor praised the administration of Okezie Ikpeazu for accessing the CBN’s intervention such as in the area of poultry farming, agriculture and production of various goods.

“The Abia state Government since we started has been able to accesses up to N2 billion from our programs”, he said.



Imanuel Jannah
By Imanuel Jannah June 22, 2017 19:37