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CBN Gives N374 Billion To Small Scale Farmers

CBN

The Central Bank of Nigeria has disbursed funds to smallholder farmers (SHFs) under the Anchor Borrowers Programme (ABP) to the tune of N374 billion across the cassava, maize, cotton and rice value chain from 2016 to date.

The CBN Director, Development Finance Department, Mr. Yila Yusuf, disclosed this during a meeting with key stakeholders in the programme. He said;

“In this season, we have emphasised the use of new improved seeds which will guarantee bumper harvest for the farmers and enable the SHFs to pay back their loans with ease.

“The season also saw more involvement of prime anchors participation in the programme. The proposed 2020 dry season farming, will focus on the use of contagious lands for mechanisation by increasing land under cultivation with state government contributing between 20,000 to 100,000 hectares, use of improved seed and establishment of off take agreement.”

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