The Central Bank Governor (CBN) Governor, Mr. Godwin Emefiele, on Thursday, highlighted the impact of the Anchor Borrowers’ Programme (ABP), that was set up to finance smallholder farmers.
He said the programme has revolutionised agricultural credit financing and remained the fulcrum of transformation initiatives in the sector.
He also said through the use of technology to boost productivity, the apex bank will work with farmers to achieve one million hectarage cultivation during the 2020 dry season; an improvement from the 500,000 hectarages in the preceding farming year.
Emefiele said in Minna, Niger State, during the national flag-off of the 2020/2021 dry season rice farming and loan recovery drive that beyond being a tool for economic empowerment, job creation and wealth redistribution, the ABP had also galvanised financial inclusion in rural communities. The programme was jointly organised by the CBN and Rice Farmers Association of Nigeria (RIFAN).
Anchor borrower game-changer in financing of smallholder farmers – CBN chief
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