The Central Bank of Nigeria (CBN) has launched the first maize pyramids and flagged off the 2021 Maize Wet Season Farming under the Maize Association of Nigeria (MAAN)-CBN Anchor Borrowers’ Programme in Katsina State, Northern Nigeria.
The Central Bank of Nigeria (CBN) in line with its developmental function established the Anchor Borrowers’ Programme (ABP). It is aimed at creating a linkage between small holder farmers (SHFs) of the required key agricultural commodities and anchor companies involved in the processing.
The programme thrust of the ABP is provision of farm inputs in kind and cash (for farm labour) to small holder farmers to boost production of these commodities, stabilize inputs supply to agro-processors and address the country’s negative balance of payments on food. At harvest, the Small Holder Farmer supplies his/her produce to the Agro-processor (Anchor), who pays the cash equivalent to the farmer’s account.
#CBN Unveils First Maize Pyramids and Flags-Off the 2021 Maize Wet Season Farming Under the Maize Association of Nigeria (MAAN)-CBN Anchor Borrowers’ Programme in Katsina State. pic.twitter.com/Q5dkOIpPRz
— Central Bank of Nigeria (@cenbank) May 6, 2021
Speaking at the unveiling of the pyramids, Governor of the CBN, Mr Godwin I. Emefiele, noted,
“Maize pyramids are indeed rare, but we have been able to achieve this through synergy amongst stakeholders and the resilience of our farmers. Success is indeed infectious, and this will surely spur us to do more.
“Maize is one of the priority crops under the Anchor Borrowers’ Programme. This is due to the crucial role maize plays, as a major staple food item, as well as its role as a significant feedstock for the poultry industry in Nigeria.”
#Emefiele further reaffirmed the apex bank’s support for youths who want to go into agriculture:
“#CBN has put in place several measures to improve access to credit under the Anchor Borrowers’ Programme and the Agri Business Small and Medium Enterprises Investment Scheme (AGSMEIS).
“Impact of our monetary policy measures will be limited, if we do not address some of the structural constraints that limit productivity in key sectors of our economy such as agriculture,” he added.
Amaka E. Nliam
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