Anchor Borrowers’ Programme: CBN grants loan to NECAS.

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The Central Bank of Nigeria, (CBN) has granted a sum of N14.9 billion loan to North East Commodity Association (NECAS) through its Anchor Borrowers’ Programme (ABP).

National President of NECAS, Alhaji Sadiq Deware who revealed this in Abuja said that the loan was for a year.

The President stressed that twenty seven farmers would profit from the programme while seventy five hectares of land would be cultivated in the four participating states.

According to him, “The beneficiaries were farmers who were mainly affected by the insurgency in Taraba, Bauchi, Gombe, Adamawa and Yobe states”

He also stated that Borno state was not included as a result of the insecurity in the state, input would be given to farmers on loan basis and payment will be made in three phases.

“Starting with first payment of 40 per cent after the first farming cycle, then they would pay the remaining two cycles of 30 per cent making a total of 100 per cent.” he said

“Before now, the size of each farm had been captured and an identity card was issued to each of the beneficiaries of the project for easy identification and documentation to enable them to access the required support,’’ He further stated.

Deware noted that for the successful implementation of the project, the extension workers had been taught the working systems of modern technologies in service delivery and they were assured that the training would be beneficial to the farmers.

He therefore expressed optimism that the new initiative would multiply the achievements of the ABP, adding that the role of agricultural extension agents in the development of agriculture in the world was very crucial.

The post Anchor Borrowers’ Programme: CBN grants loan to NECAS. appeared first on AgroNigeria.

Source: AgricNews-Update

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