FG so far injects N43.9 bn to Agriculture
The Federal Government has so far released a total of N43.92 billion through the Central Bank of Nigeria (CBN) and 13 participating institutions for supporting agriculture production across the country.
According to FG, 200,000 small holder farmers from 29 states of the federation have benefited from the scheme while 233,000 hectares of farmland cultivating eight commodities, namely Rice, Wheat, Maize, Cotton, soya-beans, Poultry, Cassava and Groundnuts, in addition to fish farming have been utilized.
Addressing Nigerians in national broadcast yesterday to mark Nigeria Independence celebration, President Muhammadu Buhari stated, “The Federal Governmentâ€™s agricultural Anchor Borrowers Programme, which I launched in November 2015, has been an outstanding success with N43.92 billion released through the CBN and 13 participating institutions, 200,000 small holder farmers from 29 states of the federation benefitting, 233,000 hectares of farmland cultivating eight commodities, namely Rice, Wheat, Maize, Cotton, soya-beans, Poultry, Cassava and Groundnuts, in addition to fish farming.
These initiatives have been undertaken in close collaboration with the states. I wish to commend the efforts of the Governors of Kebbi, Lagos, Ebonyi and Jigawa States for their support to the rice and fertilizer revolutions”.
He commended the Governors of Ondo, Edo, Delta, Imo, Cross River, Benue, Ogun, Kaduna and Plateau States for their support for the Presidential initiative for palm oil, rubber, cashew, cassava, potatoes and others crops. “With the abundance of rainfall last year and this year, agriculture has enjoyed Divine intervention.
Since December last year, this Administration has produced over 7 million 50Kg bags of fertilizer. Eleven blending plants with a capacity of 2.1 million metric tons have been reactivated. We have saved $150 million in foreign exchange and N60 billion in subsidy. Fertilizer prices have dropped from N13,000 per 50Kg bag to N5,500”.
He further assured that a new presidential initiative was starting with each state of the Federation creating a minimum of 10,000 jobs for unemployed youths, with the aid of CBNâ€™s development finance initiatives.