the " brown revolution " last year as our mantra for the transformation of the wheat value chain in nigeria. wheat is the 3rd mostly consumed grain in nigeria after maize and rice. it is estimated that we only produce about 1 per cent ( 63, 000 mt ) of the 5 - 6 million mt of wheat consumed annually in nigeria. this enormous demand - supply gap is bridged with over $ 2 billion annual importation of wheat. as a result, wheat accounts for the second highest food import bill in nigeria, thereby putting pressure on the nation's foreign exchange reserves. we have concluded the 1st major wet season wheat farming in plateau state and planted over 100, 000 hectares of wheat across 15 states in the 2021 dry season. this strategic intervention will herald progressive reduction in our wheat import bills over the coming years. 9. we also established a strategic maize reserve with the stock of maize submitted as loan repayment by our farmers. this will provide a buffer for price modulation for the poultry and feed mills nationwide. a total of 241, 656. 76 mt was aggregated in the 2020 wet and dry seasons, out of which 217, 218. 53 mt has been disposed to 18 millers and poultry farmers through the poultry association of nigeria. the program was able to stabilize the poultry and livestock sectors during the pandemic and saved the industry and consumers over n10 billion in raw material costs. 10. our experience over the years has been transformed to operational efficiency of the programme. we have added several layers of controls to improve on transparency and accountability among all stakeholders and what you are witnessing today is a demonstration of our growth and a strong indication of the enormous potential in the country's agricultural space. it is important to note that this is still a far cry from the 2 / 3 bis - central bankers'speeches desired goal. however, the growth processes reaffirm our belief in the potential inherent in our agricultural space and we can hopefully harness them to lead the diversification agenda of the economy. 11. the mega pyramids being launched today represents aggregated paddy rice submitted as repayment of loans by rifan farmers under the 2020 dry season and 2021 wet seasons. beyond the event, it also symbolizes the efforts made by our farmers to commit to loan repayment through produce submission and ultimately ensure the sustainability of the programme. to further create value and transfer these gains along the value chain, we have mapped millers to off - take these paddies and we will track the release of their outputs

of 1, 743 trainees were linked to financial institutions from which they obtained loans amounting to n227. 84 million to start or expand their businesses. this first phase of the cbn - edc initiative came to an end april 2013 having operated for 5 years. ladies and gentlemen, for sustainability purposes, i am pleased to inform you that the management of the bank has extended the tenure of the first phase cbn - edcs by an additional three years to enable the host state governments in the aforementioned zones key in and participate actively in the enhanced edc model. the bank is therefore in the process of putting together phase 2 of the programme for the south - east, north - west and south - west zones. 6. 0 the modest achievements recorded and the experiences of the edc have encouraged the bank to roll out the project in the remaining three geopolitical zones of northeast ( maiduguri ), north - central ( markudi ) and south - south ( calabar ). to date the new centres have trained all together 1, 381 participants in the first half of 2013, in spite of teething challenges faced. i particularly appreciate the government of cross river state for allocating a temporary training venue for the implementing agency, sheild academy bis central bankers ’ speeches partners to commence its training activities before today ’ s official flag - off of this magnificent building that will permanently host the centre. 7. 0 permit me at this point to take a few minutes to provide a brief highlight on the edc to create an understanding of its concept, operational modality and what is required from stakeholders ( government, cbn, implementing agencies, and financial institutions etc ) to make the programme a success. 8. 0 the edc provides a platform for state governments, private sector and the central bank of nigeria to jointly support entrepreneurship development across the country. the centres provide facilities for training particularly secondary school leavers and university graduates to obtain skills on how to identify, choose, and practically engage in profitable production of goods and services. 9. 0 the state government is expected to provide the enabling environment through the provision of conducive structure and a site for the centres, while the central bank of nigeria engages private consultants to independently operate the centres. it is worth reiterating that the states where the edcs are located and the implementation agency were selected through a competitive bidding process to guarantee efficiency and effectiveness in its operations. 10. 0 the governments of the respective states are also expected to en