CBN States That 4.9 Billion Naira Loan Has Being Given To Farmers In Nigeria

Photo source: citypeopleng.com
 The Central bank of Nigeria has stated on Sunday, that a total of N 4.9 Billion has been granted to rice farmers as loan, under its anchor borrower program.
 Mr. Godwin Emefiele, the CBN Governor stated this while speaking during a tour of cultivated farmlands in Kebbi state, that were beneficiaries of the intervention program.
 According to CBN, the Anchor Borrowers Programme was designed to create economic linkages between farmers and processors, not just only to ensure increased agricultural output of rice and wheat, but also to close the gap between production & consumption.
Photo source: thenationonline.net

 Mr. Emefiele said "The total of 78,581 farmers were mobilized in Kebbi state under the Anchor Borrowers programme. The farmers are already looking forward to a total of one million metric tons of rice this year".
 Meanwhile the Minister of Agriculture, Chief Audu Ogbeh while commending the CBN for their support in the agricultural sector said that, with Kebbi state alone targeting 1 billion metric tons of rice out of 7 million tons required by the country, the country was on its way to self sufficiency in rice production.
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