Nigeria: Farmers demand more as CBN announces N554bn spending on Anchor Borrowers scheme

Cassava

Nigeria

Published Apr 14, 2021

Tridge summary

Cassava• ‘56,000 cassava farmers got inputs in 2020, to get N40b 2021’ • Expand operations in southern states, farmers urge CBN Farmers and their association have called on the Federal Government to use the Central Bank of Nigeria-managed Anchor Borrowers’ Programme (ABP) to deepen food production in the southern states amid insecurity in the north.

Original content

They made the call while commending various interventions of the CBN across the country, especially in rice, maize, cocoa, oil palm, poultry, and cassava production. As of January 2021, the Central Bank of Nigeria (CBN) claimed it had disbursed N554.61 billion to 2,849,490 farmers to boost food security under its Anchor Borrowers’ Programme (ABP) beginning from 2015. Mr Godwin Emefiele, the CBN Governor, had earlier explained that out of the amount, N61.02 billion was disbursed to 353,370 dry season farmers. “Of the CBN’s real sector interventions, under the ABP, N554.63 billion was disbursed to 2,849,490 beneficiaries in 2015, of which N61.02 billion was allocated to 359,370 dry season farmers. Indeed, total disbursements as of January 2021 amounted to N2 trillion. x “We have also disbursed ...

Source: Guardian