2m Farmers Receives CBN N554bn In 5 Yrs

By Ugbede Usman

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Under the Anchor Borrowers Programme (ABP), the Central Bank of Nigeria (CBN) said N554.61 billion has been disbursed to 2,849,490 farmers within the past five years to curb food insecurity.

The CBN made this known via a communique issued in Abuja by its Governor, Mr Godwin Emefiele, who said out of the N554.61 billion, N61.02bn was disbursed to 353,370 dry season farmers since 2015 that ABP began.

The communique which was issued on Wednesday after the end of the apex bank’s January Monetary Policy Committee (MPC) meeting which began on Tuesday in Abuja, contains that a huge amount of money had also been allocated to ameliorate the impact of Covid-19.

“Of the CBN’s real sector interventions, under the ABP, N554.63 billion was disbursed to 2,849,490 beneficiaries in 2015, of which N61.02 billion was allocated to 359,370 dry season farmers.

“In the light of the on-going synchronised efforts by the monetary and fiscal authorities to mitigate the impact of the COVID-19 pandemic, the bank has committed substantial amounts of money towards this objective.

“Indeed, total disbursements as at January 2021 amounted to N2 trillion. For COVID-19 Targeted Credit Facility (TCF) meant for household and small businesses, we have disbursed N192.64 billion to 426,016 beneficiaries.

“We have also disbursed N106.96 billion to 27,956 beneficiaries under the AgriBusiness Small and Medium Enterprises Investment Scheme,’’ Emefiele said.

“Through the Health Care Support Intervention Facility, we have disbursed N72.96 billion to 73 projects that comprise 26 pharmaceutical projects and 47 Hospitals and Health Care Services Project in the country.

“The CBN also provided financial support through the Creative Industry Financing Initiative and the Nigerian Youth Investment Fund amounting to N3.12 billion with 320 beneficiaries and N268 million to 395 beneficiaries respectively.

“On enhancing power supply, the bank has so far, provided N18.58 billion for the procurement of 347,853 7 Classified as Confidential electricity reading meters to Discos in support of the National Mass Metering Programme,’’ the communique reads.

Photo: Governor, CBN, Mr. Godwin Emefiele

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