The Acting Director, Corporate Communications Department, CBN, Mr. Isaac Okorafor, said in a statement that the decision to enter into strategic partnerships was to consolidate on the gains of the ABP and reach more deserving small holder farmers nationwide.
He said the ABP had so far achieved success in terms of outreach and coverage, making it one of the most successful CBN development finance interventions to date.
According to him, about N45.5bn has been released through 13 participating financial institutions in respect of over 218,000 farmers cultivating nine commodities across 30 states.
He said, “The CBN is forming these partnerships to further ramp up domestic production of identified commodities by leveraging the existing organised structures of the agricultural associations nationwide, thereby providing huge economics of scale in the implementation of the programme.”
Okorafor said the strategic partnership had begun to yield results with the commencement of the Rice Farmers Association of Nigeria Anchor Borrowers’ Programme with the Bank of Agriculture, where about 300,000 rice farmers across 20 States would be supported during the upcoming dry season cultivation.
He said an additional two million metric tonnes of paddy rice was expected to be produced under the RIFAN ABP.
He added that the partnership with RIFAN was in tandem with the Federal Government’s agenda for Nigeria to be self-sufficient in rice production in the future.
Okorafor further said that all registered agricultural commodity associations could key into this strategic partnership by simply approaching any of the participating financial institutions collaborating with the CBN in the implementation of the programme. PLACE YOUR TEXT ADVERT BELOW:>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> How I Made Me =N=2.5 MILLION In 7 Days from 2 Common Product I Imported and how you can do the same. Click HERE FOR FREE Details right now Warning To Men: This 3 Foods Is Killing Your Erection. Click Here To Know Them Secret Fruits that increased my Manhood and makes me last 55 minutes+ all time - Click here to get it Warning: Got Arthritis? 3 Simple Ways To Get Cured And Be Permanently Free From Joint Pains. Click Here To See Them REVEALED!! Reduce Your Blood Sugar Level And Reverse Diabetics Within A Short Period Of Time. Click Here To See How MIDNIGHT,Pressed Mr Kilanko Suddenly Couldn't Urinate. Shrink your Enlarged Prostrate Here! Click Here Now