Wet/Dry Season Rice Farming: CBN flags off Input Distribution in Kebbi
The Central Bank of Nigeria (CBN), the country’s apex bank, has flagged off the 2020 Wet Season Harvest Aggregation and 2020 Dry Season Input Distribution under the RIFAN-CBN Anchor Borrowers’ Programme in Kebbi State, Northern Nigeria.
Speaking at the event, Mr. Godwin I. Emefiele, Governor of the CBN, said,
“To sustain income generating activity for rural dwellers with significant potential for growth, about 2,923,937 farmers cultivating 3,647,643 hectares across 21 commodities through 23 Participating Financial Institutions in the 36 States and the FCT have been financed by the Anchor Borrowers’. Programme.” #Emefiele
#Emefiele flags off the 2020 Wet Season Harvest Aggregation and 2020 Dry Season Input Distribution under the RIFAN-CBN Anchor Borrowers' Programme in Kebbi State. pic.twitter.com/hwHMTP1RzS
— Central Bank of Nigeria (@cenbank) March 2, 2021
Speaking further, Mr. Emefiele said the partnership between the CBN and the Kebbi State Government and RIFAN aimed at strategically complementing the Economic Sustainability Plan of the Buhari Administration.
Following the President’s approval of the resuscitation of the Nigeria Commodity Exchange (NCX) and the commitment of N50b by the CBN and other Stakeholders, he said a vibrant commodity exchange would enhance post-harvest handling, guarantee effective pricing for farmers, minimize the adverse effect of middle men and ultimately transfer the gains from primary production to other nodes of the value chain.
While acknowledging the importance of loan repayment to the sustainability of the programme, he stressed that the CBN was constantly engaging the farmers to enhance their trust in the system, provide a competitive price arrangement and facilitate effective market linkages for their outputs.
The CBN Governor expressed optimism about Nigeria’s capacity to achieve food self-sufficiency within the shortest time possible, adding that the CBN and RIFAN both target cultivation of 1million hectares of rice farms; which is over 350% increase from the 221,450 cultivated in 2020. He said the Bank and RIFAN equally nursed an ambitious two cycles of production in the dry season, which will trigger a continuous drop in price of rice in the country.
Pyramids at the Flag-Off of the 2020 Wet Season Harvest Aggregation in Kebbi State, Tuesday, March 2, 2021 #CBN #RIFAN #ABP pic.twitter.com/5uJnvqQIb5
— Central Bank of Nigeria (@cenbank) March 2, 2021
The Central Bank of Nigeria (CBN) in line with its developmental function established the Anchor Borrowers’ Programme (ABP).
The Programme which was launched by President Muhammadu Buhari (GCFR) on November 17, 2015 is intended to create a linkage between anchor companies involved in the processing and small holder farmers (SHFs) of the required key agricultural commodities.
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.
Amaka E. Nliam
