CBN’s Intervention to Boost Agriculture Hits N107bn in 3 years
The Central Bank of Nigeria, CBN, says it has intervened to boost agricultural production to the tune of N107 billion from 2015 to date through the Federal Government Anchor Borrowers Scheme.
The special assistant to the Central Bank Governor, Mr Olatunde Akande, disclosed this at a Town Hall Meeting in Dutse.
Akande explained that the loan by CBN to farmers was on a single digit interest and that the bank intervened on 15 different farm produce; Sesame, Rice, Soya bean, Cowpea, Groundnuts, Cassava, and Poultry among others.
Meanwhile the Minister of Information and Culture, Alhaji Lai Mohammed, also said that the Federal Government expended N2.7 trillion on agriculture and provision of other critical infrastructure in the 2017 budget.
He said that the government has been busy rehabilitating and constructing rail lines to link all parts of the country with one another.
According to the minister, it is necessary to ensure transportation of perishable products like tomatoes, pineapples, onion among others to avoid wastage.
In his remark, agriculture minister, Chief Ogbeh said that it was unfortunate that most of the perishable items get spoiled on the way due to vehicle breakdown or other reasons, hence the need for alternative transportation means.
The meeting had four ministers in attendance; Water Resources; Alhaji Suleiman Adamu, Agriculture; Chief Audu Ogbeh, Trade, Industry and Investment (state); Hajiya Aisha Abubakar.