70,000 maize farmers to access Anchor Borrowers Scheme fund

About 70,000 registered maize farmers in Nigeria are to benefit from the Central Bank of Nigeria (CBN) Anchor Borrowers Programme for the 2020 rainy season farming.

The National President, Maize Growers, Processors, and Marketers Association of Nigeria (MAGPAMAN), Dr. Edwin Uche, said each of the 70,000 maize farmers would receive N182,000 per hectare.

Dr Uche disclosed this in Bwari, Abuja, at the launch of farm inputs distribution to maize farmers for the 2020 wet season farming.

He explained that the N182,000 comprises of inputs and cash, technical support, extension support, land preparation among others and a lot of exposure embedded in it.

While stating that the association was passionate about the empowerment of its farmers to enable them operate in accordance with international best practices, Dr Uche said this would enable beneficiaries to repay their loans and make profit and build the local economy.

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“This is a new experience for the farmer who is involved in this. We want to see people move from stage to stage and that is the whole essence of the Anchor Borrower Programme”.

“We are expecting a minimum of five tonnes per hectare and when a farmer is repaying a loan with about two tonnes per hectare, he has three tonnes to play around with, with the quality of seed we are giving to the farmers”, he said.

Earlier, the Head Development Finance Office, CBN, Mr Nuhu Muazu urged the farmers to make judicious use of the support to be received in form of cash, loans, farm inputs and technical support. He reminded them that the loans would be repaid.

“For years, we have been using our hard-earned foreign exchange to import food that we can produce, by doing so, we are importing unemployment. We are also empowering farmers in other countries at the expense of the farmers in Nigeria.

“Hence, the Federal Government said no, we have to feed ourselves, but we have to support our farmers with the necessary finances that will assist them to produce”, Mr Muazu added.


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