Elombah
Take a fresh look at your lifestyle.

CBN disburses N554bn to 2m farmers to boost food security

By Kadiri Abdulrahman [NAN]

184

The CBN says it has disbursed N554.61 billion to 2, 849,490 farmers to boost food security under its Anchor Borrowers Programme (ABP) beginning from 2015.

In a communique issued in Abuja on Wednesday, Mr. Godwin Emefiele, the CBN Governor said that out of the amount, N61.02 billion was disbursed to 353,370 dry season farmers.

The communique was issued at the end of the apex bank’s Monetary Policy Committee (MPC) meeting for January which began on Tuesday in Abuja.

Emefiele added that the CBN also allocated huge sums of money to mitigate the adverse effects of COVID-19 pandemic on Nigerians.

“Of the CBN’s real sector interventions, under the ABP, N554.63 billion was disbursed to 2,849,490 beneficiaries in 2015, of which N61.02 billion was allocated to 359,370 dry season farmers.

“In the light of the on-going synchronized efforts by the monetary and fiscal authorities to mitigate the impact of the COVID-19 pandemic, the bank has committed substantial amount of money towards this objective.

“Indeed, total disbursements as at January 2021 amounted to N2 trillion.

“For COVID-19 Targeted Credit Facility (TCF) meant for household and small businesses, we have disbursed N192.64 billion to 426,016 beneficiaries.

“We have also disbursed N106.96 billion to 27,956 beneficiaries under the AgriBusiness Small and Medium Enterprises Investment Scheme,’’ Emefiele said.

He added that the apex bank also provided huge sums to support the health sector, youth empowerment as well as the creative industry.

“Through the Health Care Support Intervention Facility, we have disbursed N72.96 billion to 73 projects that comprise 26 pharmaceutical projects and 47 Hospitals and Health Care Services Project in the country.

“The CBN also provided financial support through the Creative Industry Financing Initiative and the Nigerian Youth Investment Fund amounting to N3.12 billion with 320 beneficiaries and N268 million to 395 beneficiaries respectively.

“On enhancing power supply, the bank has so far, provided N18.58 billion for the procurement of 347,853 7 Classified as Confidential electricity reading meters to Discos in support of the National Mass Metering Programme,’’ he said.

He assured that the bank would sustain its drive to improve access to credit to the private sector while exploring collaboration with the Federal Government to improve funding to critical sectors of the economy. (NAN)

 


© Copyright 2020 ElombahNews.

DISCLAIMER : Opinion articles are solely the responsibility of the author and does not necessarily reflect the views of the publishers of ElombahNews!
Would you like to be receiving ALL ElombahNews links ‘On The Go’ on WhatsApp Or Telegram? If yes, join us here on WhatsApp or Telegram, or provide us your Telephone number via publisher@elombah.com or sms/inbox +2349050382526 and you are good to go!
DOWNLOAD ElombahNews mobile app here
Send eyewitness accounts/ reports/ articles  to publisher@elombah.com; follow us on twitter @ElombahNews; like our Facebook page ElombahNews 

For adverts & inquiries, call +447460770987, +2349050382526

Comments are closed.

You have successfully subscribed to the newsletter

There was an error while trying to send your request. Please try again.

ElombahNews will use the information you provide on this form to be in touch with you and to provide updates and marketing.