Anchors Borrowers’ Programme: CBN gives N41.02bn to farmers in two months

Adebayo Obajemu

The Central Bank of Nigeria (CBN) has said that it disbursed N41.02 billion to farmers through Anchor Borrowers’ Programme (ABP) between September and October 2022.

According to a report released by the CBN, the apex bank disclosed that under the Anchor Borrowers’ Programme, the apex bank disbursed N41.02 billion to several agricultural projects, bringing the cumulative disbursement under the Programme to N1.06 trillion to over 4.6 million smallholder farmers cultivating 21 commodities across the country.

The bank also disbursed N0.30 billion to finance large-scale agricultural projects under the Commercial Agriculture Credit Scheme (CACS). Consequently, the total disbursement under the Scheme for agro-production and agro-processing stands at N745.31 billion for 680 projects.