250,000 Borno Farmers Get CBN Intervention Fund

By Bukar Bolori 

Over 250,000 farmers are to benefit from the Central Bank of Nigeria (CBN) rainy season intervention in troubled Borno State.

The Central Bank of Nigeria Head, Development Finance, Maiduguri office, Mahmood Nyako disclosed this while launching farm inputs distribution for cotton farmers in Northern part of Borno State.

Nyako said the Anchor Borrowers programme of the Bank would support farmers under ten selected commodities to ensure food sufficiency towards post COVID-19.

He said with the relative peace in the state, more intervention would be provided for farmers. 

Nyako said: “We expect our teeming unemployed youths to embrace this programme and get at least one hectare, we give from one to five hectares under the Anchor Borrowers. If they embrace farming, unemployment will dramatically reduce. “

He expressed confidence that farmers will get bumper harvest and  pay back the loan given to them which would enable more farmers to benefit from the scheme.

State Chairman Cotton Producers and Marketers Association of Nigeria (COPMAN), Alhaji Isa Abubakar commended CBN for coming to their aid as many farmers have lost their means of livelihood due to insurgency. 

Items presented include improved seedlings, fertilizers and pesticides.

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