CBN’s Intervention Reaches 400,000 Farmers

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Central Bank of Nigeria (CBN) says greater than 400,000 farmers have to this point acquired its assist from the Anchor Borrower Programme (ABP) to cultivate 12 crops, together with rice, soya, maize, palm produce, cotton and cassava.

The assist, estimated at greater than N56 billion since inception, has, nonetheless, raised domestic production, saved forex and created jobs.

At the flagging off of input distribution for the 2018 moist season farming in Cross River State, CBN Governor, Godwin Emefiele, reiterated the financial institution’s resolve to take agriculture again to its enviable heights as a lucrative enterprise via the intervention.

CBN Support Agriculture: CBN Will Support Any State Committed To Agric
CBN Support Agriculture: CBN Will Support Any State Committed To Agric

However, he indicates that real farmers should key into the technology-driven input distribution system with a view to benefiting from the low rate of interest of 9 per cent offered.

In line with him, the biometric capturing, which recognized farmers with particular farmland by way of mapping, has eradicated the difficulty of ‘absentee’ or non-practising farmers benefiting from the inputs and different services.

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In the meantime, the apex financial institution, yesterday, reiterated its pledge to assist the greater than 12,000 farmers registered with the Rice Farmers Affiliation of Nigeria (RIFAN) in Cross River.

The financial institution stated the assist could be with a view to repositioning agriculture as a lucrative enterprise for employment opportunity, wealth creation and food security within the nation and at state level.