NIGERIA'S APEX BANK TO BOOST FARMING ACTIVITIES

 

The Nigeria’s apex bank  (CBN)  launched the 2022 dry season farming loan recuperation scheme under the Federal Government’s Anchor Borrowers’ Program in collaboration with Wheat Farmers Association of Nigeria (WFAN) in Gombe state.

The drive is in The ceremony was launched on Tuesday in Angwan-Uku community, Gombe Local Government Area.

CBN’s Development and Finance Office’s head  Abdullahi Baba Isa  said government’s intervention in wheat farming has been  yielding  positive results in Nigeria, adding that the intervention was aimed at humanizing the economy, reducing wheat importation, creating employment and boosting wheat production among many other productive programs.

Abdullahi Baba Isa  said this the first time  the country’s apex bank CBN was intervening in wheat farming  and 15 states were short listed for assistance  to increase farming.

This will engage about 150,000 farmers to grow the product and decrease 60 per cent importation of wheat, thus saving the country at least two billion dollars.

A total of about 5,000 hectares of farmland were sophisticated under three anchors and the results from the harvest were impressive in Gombe State.