ABP: North-Central farmers commend CBN, look forward to bumper harvest

Rice, maize, cassava, sesame and soybean farmers in Nasarawa, Niger, Kogi and Benue states as well as the FCT are positioned for an increase in yields and improvement in livelihoods following The Nigeria Incentive-Based Risk Sharing System’s (NIRSAL Plc) support for their 2020 wet season farming activities under the CBN’s Anchor Borrowers’ Programme (ABP).

The development came following NIRSAL structuring of farmers in the FCT into 16 established Agro Geo-Cooperatives (AGC), 12 of which are included in the ABP for wet season 2020.

As more AGCs develop around the territory and beyond, NIRSAL continued to provide trainings on bookkeeping & modern farming practices, mechanization for pre-planting, planting & harvesting activities and distribution of improved, high-yielding seed varieties.

NIRSAL has also linked the 926 FCT farmers cultivating 1140 hectares of land with guaranteed offtake markets thereby protecting them from price fluctuations and the exploitative tendencies of some middlemen. Other forms of support include the provision of fertilizer, crop protection products and round-the-clock technology-driven project monitoring services.

Symbolic of input distributions that occurred across the north-central region of Nigeria, some farmers in Dobi area of the Federal Capital Territory (FCT), recently received further support for their on-going farming activities from NIRSAL.

They met with NIRSAL’s officials at Passo where the Head of NIRSAL’s Project Monitoring, Reporting and Remediation Office (PMRO) in the FCT, Mr. Ayo Olaleye, relayed the Federal Government’s and the Central Bank of Nigeria’s unwavering commitment to agriculture to them.

Though the COVID-19 pandemic has triggered a host of economic challenges globally, the Federal Government’s resolve not to undermine the agriculture sector is visible in the continued injection of funds into the sector through the CBN’s ABP.

Moreso, NIRSAL’s Agro Geo-Cooperative model, upon which it is performing its role as a Participating Financial Institution (PFI) in the ABP, is a demonstration of increasing multi-sectoral support to agriculture in spite of the times.

Olaleye told the farmers that NIRSAL’s Managing Director/CEO, Mr. AliyuAbdulhameed, will continue to prioritize farmers’ needs, not just in the implementation of the CBN’s ABP, but also in the development and delivery of frameworks that will further open the banking sector to agriculture – the Agro Geo-Cooperative model being one of them. In the meantime, he said, NIRSAL will continue to ensure that farmers get the best of inputs at the right times and locations for their production purposes.

The gathering was an opportunity for different farmer groups to meet and discuss how their crops are faring after planting and to confirm the extent to which they benefited from the mechanization component of the ABP in the area of land preparation. As their crops sprout and grow, the ABP, which is basically an input loan scheme, also provides for cash component that empowers farmers to weed and maintain their farms personally.

Speaking on behalf of his members, the President of the Dobi AGC, Rev. Emmanuel Afolabi, expressed appreciation to the Federal Government and NIRSAL for their inclusion in the ABP, promising that they would ensure its successful implementation. He solicited for the sustenance and expansion of the programme to include more farmers in Dobi community in the future.

In Afolabi’s words, “We are grateful to the Federal Government for remembering us and bringing this project to us, rural dwellers. On our part, we will strive to ensure that the project is a success in our community. We pledge that we will not fail the Federal Government and NIRSAL. We are requesting that the programme will not end this year and we want more farmers to be accommodated next year”.

Also present at the gathering was Mr. Nmadu Benjamin who represented the Head of the CBN’s Development Finance Office (DFO) in the FCT, Mr. NuhuMuazu.

Nmadu encouraged the farmers to make good use of the ABP opportunity and ensure that they repay the loan so that they can access more benefits in the future.

The sentiment has been the same across the region as Agro Geo-Cooperative leaders express delight in the tenets of the model and in the prompt implementation of the CBN’s food security initiative by NIRSAL.

Trainings were delivered to selected officers of the PMRO who have been crisscrossing the region, building the capacities of farmers and handholding them throughout the project cycle to ensure that they adopt good agronomic practices that will optimize their yields, which will in turn foster prompt loan repayment.

As an institution created by the CBN to link agriculture and finance, NIRSAL continues to develop and deploy bespoke, technology-driven risk-mitigation mechanisms designed to boost farmers’ productivity and encourage financiers to lend to agriculture. The support extended to farmers through the ABP is another example of how NIRSAL Plc continues to deliver on its mandate.



$3.313bn Chinese Loans: Nigeria Pays $461m, Still Owes $3.12bn
DESPITE paying the sum of $461.89million (about 13.4 per cent ) of the $3.313billion debt (Chinese loans) owed the Peoples Republic of China, the outstanding (Chinese loans) against Nigeria is still $3.12billion (about 94 per cent), a document from the Debt Management Office has revealed…

$500m Loan: Review All Foreign Loan Agreements, PDD Tells NASS
The Peoples Democratic Party (PDP) has urged the National Assembly to begin a review of all agreements in foreign loans entered into by the All Progressives Congress (APC)-led Federal Government…

MONDAY LINES: ‘Mamman Daura Seeks Competence’
Leader of the ‘unseen’ persons ruling us, Alhaji Mamman Daura, spoke last week. He said enough of turn-by-turn presidency for Nigeria. He decreed that North-South rotation of the presidency of Nigeria should be dead; from 2023, the most competent among contenders would be put in the Presidential Villa…

Pastor Olukoya, Awolowo And Eternal Life
There is a viral audio online in which the General Overseer of the Mountain of Fire and Miracles Ministries (MFM), Pastor Daniel Olukoya, suggested that Papa, Chief Obafemi Awolowo, “did not fulfill his destiny” of becoming the president of Nigeria because he “never surrendered his life to Jesus till he…

Order Buhari To Publish Details Of Govt Loans Since 2015, SERAP Tasks Court
THE Socio-Economic Rights and Accountability Project (SERAP) has asked the Federal High Court, Abuja to order President Muhammadu Buhari to “publish details of loans that have been obtained by the government since May 29, 2015, including the interest rate, the total amount of debts so far incurred by this…

NDIC To Revoke Licences Of 37 Weak Microfinance Banks
THE Nigeria Deposit Insurance Corporation (NDIC), is set to revoke licences of 37 microfinance banks (MFBs), due to their inability to meet necessary regulatory conditions…

You might also like

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. AcceptRead More