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 on Wednesday in Abuja during a media briefing on the implementation of the programme.
The ABP which was launched in Kebbi State on Nov. 17, 2015, by President Muhammadu Buhari, was designed to create economic linkages between farmers and processors, not only to ensure increased agricultural output of rice and wheat, but also close the gap between production and consumption.
Okorafor disclosed that out of the N55 billion provided by the apex bank to farmers, 80 per cent of the amount, N44 billion was given to rice farmers alone.
He said the need to provide rice farmers adequate funding was to ensure self sufficiency in rice production and to also ensure that Nigeria becomes a net exporter of the product.
