Anchor Borrowers’ Programme: Farmers repay N 1. 12 b

Farmers who accessed loans from the Central Bank of Nigeria (CBN) under the Anchor Borrowers’ Programme (ABP) have repaid the sum of N7.11 billion.
This accounts for about 47 per cent of the N15.137 billion loan which has fallen due, mainly in Kebbi State.
A total of N33.34 billion had been released under the ABP, but the balance is yet to fall due for re-payment .
Details of the loan disbursement and repayment obtained from the apex bank indicated that as at March 31, 2017 a total sum of N33.34 billion had been released through 12 Participating Finance Institutions in respect of 146,557 farmers across 21 States, cultivating over 180,018 hectres of land.
It showed that contrary to insinuations about the willingness of farmers to pay up their loans, the CBN ABP is a proof that farmers actually re-pay loans and should, therefore, not be denied by Deposit Money Banks.
The balance of N18.203 billion of the 12 months tenured loans released to farmers in the other twenty (20) states for two cropping (wet and dry) seasons have not fallen due for repayment.
Even at that, farmers in other benefiting states have also commenced the repayment to the tune of N1.238 billion which is already with the CBN.
CBN sources said that efforts were being made by the participating state governments to ensure that all outstanding loans are repaid by the farmers as soon as they are due before commencement of the next dry season cultivation.
This he said would enable the CBN extend similar gestures to farmers in other states which have indicated interest in the participating in the ABP.
ABP focuses on six commodities: rice, wheat, maize, soya beans, cotton and fish.

Out of an estimation of four million metric tons of rice under the programme, nationwide, Kebbi State alone has produced about 2 million metric tons.


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