Farmers have been expressing excitement since the Central Bank of Nigeria, CBN intervention fund commenced, which have positively impacted the lives and businesses of stakeholders in the agriculture sector.
Some smallholder agronomists have stated that the interventions have been responsible for the food security enjoyed in parts of the nation.
The agriculturists revealed that the apex bank had committed about seven hundred and ninety-nine billion naira (N798.09), including another amount close to four million naira meant for smallholder cultivations.
They said that such funds had prevented a possible food crisis, and inflation would have worsened as supply became low and prices rose in the last few months.
They also revealed that the multiple financial schemes introduced by the bank enabled the agriculture sector operators to achieve about five million hectares across the country under its Anchor Borrowers’ Programme, ABP.
Other impactful programmes have changed the financial status of Nigerian farmers in various parts of the country as CBN intends to continue exploring means through which it would guarantee food security in Nigeria.