Farmers Get N75.9 Billion Loan From CBN In Two Months

A total amount of N75.9 billion was been disbursed as a loan to farmers by the Central Bank of Nigeria (CBN) between November and December 2021 under its Anchor Borrowers’ Programme (ABP).

The fund aims at supporting the cultivation of over 383,000 hectares of maize, rice and wheat during the year's dry season, bringing the cumulative disbursements under the Programme to N927.94 billion to over 4.5 million smallholder farmers cultivating 21 commodities across the country.

N1.76 billion was also released by the apex bank to finance two large-scale agricultural projects under the Commercial Agriculture Credit Scheme (CACS).

CBN also disbursed N151.23 billion under the Real Sector Facility to 15 more projects in agriculture, manufacturing, mining, and services.

As part of its effort to support households and businesses affected by COVID-19, the bank disbursed N20.29 billion to 40,521 beneficiaries, comprising 35,340 households and 5,181 small businesses under the Targeted Credit Facility (TCF) within the period.

N498.00 million was also released to two healthcare projects under the Healthcare Sector Intervention Facility (HSIF), bringing the cumulative disbursements to N108.85 billion for 118 projects, comprising 31 pharmaceuticals, 82 hospitals and four other services.