Presentation of Farm Inputs to Farmers in Borno State Photo: Radio Nigeria

250,000 farmers to get loans as CBN launches farm inputs distribution

*Focuses on 10 selected commodities to ensure food sufficiency post-COVID-19

Isola Moses | ConsumerConnect

As the farming season sets in, the Central Bank of Nigeria (CBN) has said that over 250,000 farmers are to benefit from its rainy season intervention initiatives in Borno State.

Mahmood Nyako, Head, Development Finance of CBN in Maiduguri Office, stated this  this while launching the distribution of farm inputs for cotton farmers in northern part of the North-East state in the country.

Items presented on the occasion include improved seedlings, fertilizers and pesticides.

The Punch reports Nyako said that the Anchor Borrowers Programme (ABP) of the Bank would support farmers under 10 selected commodities to ensure food sufficiency towards post-COVID-19.

According to him, with the relative peace in the highly troubled state, more intervention would be provided for farmers.

“We expect our teeming unemployed youths to embrace this programme and get at least one hectare; we give from one to five hectares under the Anchor Borrowers. If they embrace farming, unemployment will dramatically reduce,” stated the CBN Head of Development Finance.

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