Anchor Borrowers’ Loan: CBN Disburses ₦791 Billion To 3 Million Farmers

Anchor Borrowers’ Loan: CBN Disburses ₦791 Billion To 3 Million Farmers: The apex bank of Nigeria CBN has disbursed N791 billion to 3 Million Framers in the 36 States and Abuja, under what is known as “Anchor Borrowers’ Programme (ABP)”

Mr. Yusuf Yila, Director, Development Finance Department of the bank confirmed this Friday, the 13th of August 2021 in Abuja during an interactive session with members of the Press

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According to Mr. Yusuf Yila, the interest rate for the loan has been reduced from 9% to 5%, this will encourage farmers to access the loan with ease

Small Holder Farmers (SHF) can now enjoy flexible interest rates when accessing the Anchor Borrowers’ loan as CBN Disburses ₦791 Billion To 3 Million Farmers

Mr. Yusuf Yila, Director, Development Finance Department Press Statement

“Agriculture works better in the dry season because you cannot control water during the rainy season, but you can control it during the dry season by using irrigation.

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“The bank is also building silos and irrigation dams to reduce losses,’’

“We are also ensuring value addition in the scheme, by ensuring the meters are not fully imported but assembled in Nigeria.”

“By that, we are creating thousands of jobs and also supporting economic diversification,’’

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