CBN Disbursed Over N1Trillion to Smallholder Farmers
The apex bank reveals that over N1trillion were disbursed to smallholder farmers across the nation, this intervention was primarily aimed at stimulating manufacturing, productivity, agriculture; and industry, among others.
FG has made a giant stride in agriculture by providing massive funding to small and medium farmers, thus increasing the production of local content in the agricultural sector of the Nigerian economy
According to the CBN governor; “Between April and May, the CBN had released N57.91 billion under the Anchor Borrowers’ Programme to 185,972 new projects for the cultivation of rice, wheat, and maize,”
“This brings the cumulative disbursement under the program to N1.01 trillion disbursed to more than 4.2 million smallholder farmers cultivating 21 commodities across the country.”
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CBN Disbursed Over N1Trillion to Smallholder Farmers
“This brings the total disbursement under the scheme to N21.23 billion for 10 state-led and three private sector-led projects,’’
“The funds also went into the construction of a 300 metric-tonne per day oil mill in Gusau, and the acquisition and installation of an agrochemical factory.
“This brings the cumulative disbursement under this scheme to N741.05 billion for 674 projects in agro-production and agro-processing,’’