CBN Spends N55 bn To Improve Local Food Production

The Central Bank of Nigeria (CBN), says it has disbursed N55 billion to more than 250,000 farmers within two years of implementation of the Anchor Borrowers Programme

( ABP ).

The Acting-Director, Corporate Communications Department, CBN, Isaac Okorafor confirmed the figure on Wednesday in Abuja during a media briefing on the implementation of the programme.

The ABP was launched in Kebbi State on Nov. 17, 2015, by President Muhammadu Buhari.

It was designed to create economic linkages between farmers and processors, not only to ensure increased agricultural output of rice and wheat, but also close the gap between production and consumption.

Okorafor was accompanied to the briefing by the Special Adviser to the CBN Governor, Mr Olatunde Akande, and top executive of the Rice Farmers Association of Nigeria ( RIFAN ) led by its President, Alh. Aminu Gorongo.

Photo Caption: Acting-Director, Corporate Communications Department, CBN, Isaac Okorafor