About 1,250 local farmers in Kwara state will benefit from the N1 billion loan in the first phase of Kwara/Central Bank of Nigeria 2018 anchor borrowers’ programme (ABP).
Speaking during official flag off of the programme in Ilorin on Monday, Governor Abdulfatah Ahmed said that the new initiative by the state government to obtain N1billion loan from the CBN through the ABP platform to drive its initiatives in agriculture was to further empower local farmers in production of rice, maize, soybeans and cassava.
The governor, who was represented by the state commissioner for Agriculture, Mr. Adegoke Bamidele, said that the programme would involve 500 maize farmers, 350 soybeans farmers, 150 rice farmers and 250 cassava farmers.
"The programme thrust of the ABP is the provision of farm inputs in kind and cash (for farm labour) to small holder farmers to boost production of these commodities, stabilize inputs supply to agro processors and address the country’s negative balance of payments on food.
"At harvest, the shf supplies his/her produce to the agro processor (anchor) who pays the cash equivalent to the farmers’ account", he said.
Join Daily Trust WhatsApp Community For Quick Access To News and Happenings Around You.
