The Central Bank of Nigeria (CBN), says it has disbursed N55 billion to more than 250,000 farmers within two years of implementation of the Anchor Borrowers Programme (ABP).
The Acting-Director, Corporate Communications Department, CBN, Isaac Okorafor confirmed the figure during a briefing on the implementation of the programme in Abuja.
The ABP which was launched in Kebbi State on Nov. 17, 2015, by President Muhammadu Buhari CBN said the initiative was designed to create economic linkages between farmers and processors, and ensure increased agricultural output of rice and wheat as well as close the gap between production and consumption.
Okorafor was accompanied to the briefing by the Special Adviser to the CBN Governor, Mr. Olatunde Akande, and top executive of the Rice Farmers Association of Nigeria (RIFAN) led by its President, Alh. Aminu Gorongo.
The acting-Director said 80 percent (N44 billion) of the amount, was given to rice farmers alone adding that the need was to ensure self-sufficiency in rice production and to also allow Nigeria become a net exporter of the product.
In his remarks, the RIFAN president Gorongo said the association was partnering with the CBN to increase rice production by two million tonnes in 2018.
He noted that under the new ABP partnership between the CBN and RIFAN, 200,000 farmers would be given fresh funds to plant rice in the dry season farming.
According to him, another 500,000 rice farmers would also be mobilized during the wet season farming.
Gorongo said farmers would be able to employ a total of five million people to work on rice production value chain during the period as a result of the funding.
Meanwhile, CBN has confirmed that it has assisted about 250,000 farmers across Nigeria to cultivate close to 300,000 hectares of farmlands adding that the impact is noticed across the country.
