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Home Entrepreneurship CBN Approves N1.5 Billion for Katsina farmers
CBN Approves N1.5 Billion for Katsina farmers

CBN Approves N1.5 Billion for Katsina farmers

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The Central Bank of Nigeria (CBN) has approved about N1.5 billion for disbursement to farmers in Katsina State to boost food production and security in the country under Anchor Borrowers Programme (ABP).

Leadership checks indicates that about 8000 rice farmers have been cleared by the apex bank and the state government to receive the funds through the Bank of Agriculture.

The Managing Director of Katsina Agricultural and Rural Development Agency (KTARDA), Alhaji Ibrahim Shehu Musawa, who confirmed this to newsmen in Katsina, said the up takers of the farm produce were ready to kick start the programe with distribution of implements and inputs to the farmers.

Musawa said each farmer will receive N267, 750 through their bank accounts as well as improved rice seed, NPK and Urea fertilizer, herbicides, insecticides and water pumping machines among others.

The KTARDA boss explained that the CBN grant would enable the farmers to settle inputs suppliers, the labour for land clearing and other logistics.

Musawa, who stressed the determination of government to assist farmers at all times, assured that their produce would be purchased at an encouraging price for the success of the programme.

The CBN officer in charge of the screening, Garba Ismail, also stated that all the farmers invited for the exercise would be paid through the Bank of Industry and advised them to repay the funds as stipulated.

Speaking on the programme, the Katsina chairman of Rice Farmers Association of Nigeria, Alhaji Shu’aibu Wakili Kafur, explained that the farmlands of beneficiary had been ascertained to ensure only genuine farmers were participating in the programme.

 

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