P
ProfRem
Guest
The Central Bank of Nigeria (CBN) has so far released N43.92 billion to farmers under its Anchor Borrowers Programme (ABP) through 13 participating institutions.
Over 200,000 small holder farmers from 29 states of the federation have also benefited and about 233,000 hectares of farmland cultivated, with eight commodities, including rice, wheat, maize, cotton, soya beans, poultry, cassava and groundnuts as well as fish farming.
CBN’s Acting Director, Corporate Communications, Mr. Isaac Okorafor, who represented the Governor, Mr. Godwin Emefiele, at the bank’s special day at the ongoing 12th Abuja International Trade Fair, said so far, there has been a quantum leap in local production of most of the commodities contained in the list of 41 items not illegible for official foreign exchange allocation or access in the country.
Responding to questions from the audience, Okorafor said CBN’s introduction of the ABP in less than two years had increased local rice production by two million metric tons, bringing local production to about four million metric tons.
He promised that by next year, the bank would add another two million metric tons, and ultimately meet over six million metric tons local consumption requirement.
Over 200,000 small holder farmers from 29 states of the federation have also benefited and about 233,000 hectares of farmland cultivated, with eight commodities, including rice, wheat, maize, cotton, soya beans, poultry, cassava and groundnuts as well as fish farming.
CBN’s Acting Director, Corporate Communications, Mr. Isaac Okorafor, who represented the Governor, Mr. Godwin Emefiele, at the bank’s special day at the ongoing 12th Abuja International Trade Fair, said so far, there has been a quantum leap in local production of most of the commodities contained in the list of 41 items not illegible for official foreign exchange allocation or access in the country.
Responding to questions from the audience, Okorafor said CBN’s introduction of the ABP in less than two years had increased local rice production by two million metric tons, bringing local production to about four million metric tons.
He promised that by next year, the bank would add another two million metric tons, and ultimately meet over six million metric tons local consumption requirement.
