CBN Anchor Borrowers Loans to Farmers hit N1.01trn

The total amount disbursed under the Anchor Borrowers Programme of the CBN has risen to N1.01tn as of the end of April.

Figures obtained from the CBN reports from members of its Monetary Policy Committee said; “Between January and February 2022, the bank disbursed N29.67bn under the Anchor Borrowers’ Programme for the procurement of inputs and cultivation of maize, rice, and wheat, three crops that hitherto were significant concerns of FX demand.

“These disbursements bring the total under the programme to over 4.52 million smallholder farmers, cultivating 21 commodities across the country, comes to a total of N975.61bn.”

In its latest MPC report on the Anchor Borrowers Programme, the CBN said; “Between April and May 2022, the Bank released the sum of N57.91bn under the Anchor Borrowers’ Programme to 185,972 new projects for the cultivation of rice, wheat, and maize, bringing the cumulative disbursement under the programme to N1.01tn, disbursed to over 4.2 million smallholder farmers cultivating 21 commodities across the country.”

Punch/Hauwa Abu