GOVERANCE

CBN Disburses N12.6bn To Farmers In 3 Months

The Central Bank of Nigeria (CBN), has disbursed N12.65 billion to the Anchor Borrowers Programme (ABP), its flagship agriculture intervention scheme from January till date.

From the programme in 2015, a total sum of N1.09 trillion has been disbursed under the programme, the apex bank chief, Godwin Emefiele, said after the monetary policy committee meeting in Abuja.

While reading the communique issued at the end of the 290th MPC meeting , the CBN governor said the total sum that has been disbursed under the ABP since its inception in 2015 is N1.09 trillion.

“Between January and February 2023, the bank disbursed N12.65 billion to three agricultural projects under the ABP.

“It brings the cumulative disbursement under the programme to N1.09 trillion to more than 4.6 million smallholder farmers cultivating or rearing 21 agricultural commodities on an approved 6.02 million hectares of farmland,” Emefiele said.

He said that the CBN had also disbursed huge sums as an intervention to various other sectors of the economy.

“The CBN also released the sum of N23.70 billion under the N1.0 trillion Real Sector Facility to eight new real sector projects in agriculture, manufacturing, and services.

“Cumulative disbursements under the Real Sector Facility currently stands at N2.43 trillion disbursed to 462 projects across the country, comprising 257 manufacturing, 95 agriculture, 97 services and 13 mining sector projects,” he said.

He said that the apex bank also released N3.01 billion under the Nigerian Electricity Market Stabilisation Facility (NEMSF-2) for capital and operational expenditure of electricity distribution companies (Discos).

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He said that the facility was aimed at improving liquidity status of the Discos, and aiding their recovery of legacy debt.

“This brings the cumulative disbursement under the facility to N254.39 billion,” he said.

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