20,000 rice farmers benefit from CBN anchor borrowers programme

No fewer than 20,000 rice farmers have benefited from the Central Bank of Nigeria (CBN) Anchor Borrowers Programme in Bauchi State.

Dr Yahaya Adamu, the State Chairman Rice Farmer Association of Nigeria (RIFAN), disclosed this at the CBN fair for promoting financial stability and economic development on Monday in Bauchi.

He said that 20,000 farmers benefited from farm inputs under the scheme as part of the empowerment programme for farmers in the state.

Adamu said that the inputs included assorted fertiliser, pesticides, high-yield seeds as well as technical know-how to operate in farms.

“With the Initiative of anchor borrowers’ programme, rice farmers have been encouraged to bridge the deficit in rice farming in the country.

“Rice farming received a boost across all the states in the country by supplying rice to milers in pyramids.

“Very soon rice farmers would begin to export the commodity to other countries of the world,” he said

The RIFAN chairman said that rice farmers have changed the old model of farming to business oriented farming because of the large hectares of farm land acquired through the anchor borrowers scheme.

Adamu commended the Federal Government for initiating the scheme to support not only RIFAN but all farmers across the states.

In his remarks, Mr Osita Nwanisobi, CBN Fair Team Lead, Director, Corporate Communication Department, said the objective of the fair was to create awareness on promoting financial stability and economic development.

“CBN wants to build the financial system of the country that is safe, sound and in line with the best possible financial practices.

“The bank is ever ready to listen to the people of Nigeria in order to know how best to serve them with the aim of improving the financial base of their businesses, particularly the small and medium-scale businesses.

Nwanisobi pointed out that the CBN was committed to developing financial interest in order to grow the country’s economy through the various intervention programmes which have been made easily accessible to the public.

He urged the participants to speak out in order to assist the CBN to know the areas of the intervention that need to be improved upon for effectiveness.

On his part, Mr Idris Haladu, the CBN branch Controller Bauchi, represented by Malam Adamu Mele, Head of Banking at the Fair, said the bank would avail opportunities for small scale and medium businesses to operate and access facilities.

He assured that the CBN would continue to open its doors for Nigerians to come and make enquiries on the interventions available to the public for accessibility.

Supreme reports that participants at the CBN fair included farmers, small business groups, government officials, traders, contractors among others.