FG DISBURSED N948b TO 4,478,381 FARMERS ACROSS THE COUNTRY

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    The Federal Government of Nigeria under the leadership of President Muhammadu Buhari, GCFR, through the Central Bank of Nigeria (CBN) says it has disbursed N948 billion to 4, 478, 381 smallholder farmers under the Anchor Borrowers’ Programme (ABP) across the country.

    The Director, Corporate Communications Department, CBN, Mr Osita Nwanisobi stated this in Enugu during the ongoing Enugu International Trade Fair.

    The ABP is an agricultural loan scheme launched in 2015 by the Federal Government through the CBN.

    The main aim of the programme is to boost agricultural yields, halt large volumes of food importation and address negative trade balance.

    Meanwhile, Nwanisobi said that the smallholder farmers who benefited from the scheme cultivated 5.2 million hectares of farmland across the country, thereby, creating over 12.5 million direct and indirect jobs.

    Under the CBN targeted Credit Facility designed to cushion the effect of the Coronavirus pandemic, the director said that the apex bank had disbursed N368.79 billion to 778, 000 beneficiaries.

    He said that the beneficiaries comprised 648, 052 households and about 130, 000 Small and Medium Enterprises.

    “Specifically, the bank disbursed N1.452 trillion to 337 large real sector projects in agriculture, manufacturing, services and mining under Real Sector Support Facility (RSSF),” he said.

    Nwanisobi said that the CBN did it through its developmental role as enshrined in the CBN Act 2007 (as amended) led policy and financing support to about 40 interventions.


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