Shri sector: farmers, others to get N432bn – CBN



The Central Bank of Nigeria on Thursday said it plans to fund the value chains of nine agricultural commodities to the tune of N432bn in the 2020 wet planting season.


It outlined the commodities to include rice, cotton, oil palm, tomato, cassava, poultry, fish, maize, cocoa and livestock/diary.


Senior officials of the bank disclosed this at a stakeholders’ meeting to review the successes recorded under the CBN Anchor Borrowers Programme and the strategies for the 2020 agricultural wet season.


This came as the bank said it would release a framework for the integration of non-interest window in all its intervention programmes.


It named the ABP and the Targeted Credit Facility that would support households and micro, small and medium enterprises affected by the COVID-19 pandemic, as the main programmes being considered by the framework.


The Director, Development Finance Department, CBN, Yila Yusuf, explained that the bank’s target for the 2020 planting season was to advance about N432bn to farmers in the value chains of nine commodities.


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