70,000 maize farmers to benefit from CBN’s anchor borrowers scheme

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From: AgroNature Admin

ABOUT 70,000 registered maize farmers are to benefit from the Central Bank of Nigeria (CBN) Anchor Borrowers scheme for the 2020 rainy season farming.

Each registered farmer would receive N182,000 per hectare. The package comprises inputs and cash, technical support, extension support, land preparation among others.

Dr. Edwin Uche, National President, Maize Growers, Processors, and Marketers Association of Nigeria (MAGPAMAN), made the disclosure at the launch of farm inputs distribution to maize farmers for the 2020 wet season farming in Bwari, Abuja, Nigeria.

According to a report by the Nigerian Tribune, Uche said the association was passionate about farmers empowerment adding that the loan would boost their productivity.

“This is a new experience for the farmer who is involved in this. We want to see people move from stage to stage and that is the whole essence of the Anchor Borrower Programme.

“We are expecting a minimum of five tonnes per hectare and when a farmer is repaying a loan with about two tonnes per hectare, he has three tonnes to play around with, with the quality of seed we are giving to the farmers”, he said.

Earlier, the Head Development Finance Office, CBN, Mr Nuhu Muazu urged beneficiaries to make judicious use of the supports as they are expected to repay the loans.

“For years, we have been using our hard-earned foreign exchange to import food that we can produce, by doing so, we are importing unemployment. We are also empowering farmers in other countries at the expense of the farmers in Nigeria.

“Hence, the Federal Government said no, we have to feed ourselves, but we have to support our farmers with the necessary finances that will assist them to produce”, Mr Muazu added.

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