Anchor Borrowers Programme, APB, of the Central Bank of Nigeria, CBN, has recently impacted the lives of over three million farmers across the 36 states of the nation.
The apex bank reportedly disbursed seven hundred and ninety-one billion naira (N791bn) to farmers nationwide as part of the drive to make farming one of the major sources of revenue generation, aside from oil and mineral sectors.
Yesterday in Abuja, the Director, Development Finance Department of the Central Bank of Nigeria, Mr Yusuf Yila, said the programme was inaugurated on November 17, 2015, to provide farmers with the needed environment and equipment, including cash, to operate on a more extensive basis.
Anchor Borrowers Programme
The programme links Anchor Companies involved in food processing and Small Holder Farmers, SHFs of the required essential agricultural commodities, through commodity associations.
According to the Director, Development Finance Department, he revealed the programme assisted farmers involved in commercial ventures to improve and increase their farm yields.
Yila, CBN‘s Director, said the bank was also investing in reducing post-harvest losses of farm produce by encouraging dry season farming, describing it as better in reducing such losses.