CBN SPENDS N55BN TO IMPROVE LOCAL FOOD PRODUCTION

cbn

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.