Four million farmers received N800b under CBN Anchor Borrowers’ Programme, says Osinbajo

Vice President Yemi Osinbajo, yesterday, disclosed that four million farmers across different value chains received N800 billion under the Central Bank Anchor Borrowers’ Programme (ABP).

Speaking during the Feed Nigeria Summit in Abuja, Osinbajo said the money was disbursed to smallholder farmers cultivating a variety of commodities on over five million hectares.

The Vice President recalled that the Federal Government, in 2015, activated the ABP scheme under the CBN, geared towards providing farmers with critical funds and input needed to increase local production.

He said challenges confronting Nigeria, in terms of food security, are multi-dimensional and there are no quick fixes, which is why the current administration has prioritised agriculture, as it understands the prominent role food security play in national development.

Osinbajo, who was represented by Minister of Agriculture and Rural Development, Mohammed Abubakar, disclosed that about 60 million 50kg bags of NPK 20:10:10 fertilisers were produced under the Presidential Fertiliser Initiative.

He added that the National Agricultural Land Development Authority (NALDA) has been directed to establish integrated farm estates across the country, and that the agency is also engaging over 1,000 youths through its National Youth Farmers Scheme.

In his remarks at the event, the Director General, Feed Nigeria Summit Secretariat, Richard-Mark Mbaram, said the programme was organised to galvanise stakeholders in the agricultural sector and chart a way forward for the industry.

He said stakeholders at the summit would come up with measures to address challenges of proper food storage to reduce about 50 per cent post-harvest losses being recorded in Nigeria, among other recommendations.