• About
  • Advertise
  • Contact
Friday, May 9, 2025
  • Login
Vital News
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security
No Result
View All Result
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security
No Result
View All Result
Vital News
No Result
View All Result
Home Agriculture/ Water/ Mineral

CBN disburses N948 billion to 4, 478, 381 smallholder farmers

Vital News by Vital News
April 4, 2022
in Agriculture/ Water/ Mineral
0
Share on FacebookShare on Twitter

By Emmanuel Acha

Enugu – The Central Bank of Nigeria (CBN) says it has disbursed N948 billion to 4, 478, 381 smallholder farmers under the Anchor Borrowers’ Programme (ABP) across the country.

The Director, Corporate Communications Department, CBN, Mr Osita Nwanisobi disclosed this at the weekend in Enugu during the ongoing Enugu International Trade Fair.

The News Agency of Nigeria (NAN) reports that the ABP is an agricultural loan scheme launched in 2015 by the Federal Government through the CBN.

The main aim of the programme is to boost agricultural yields, halt large volumes of food importation and address negative trade balance.

RelatedStories

Rainy Season Farming : Farmers In Osun, Ekiti, Ondo, Oyo Lament Labour Shortage, Rising Costs Of Inputs

Kwara Rice Farmers Hail Etsu Patigi’s Leadership At Sixth Anniversary

Kogi Diversifies Economy, Acquires 15 Mining Rights, Ododo Unveils Equipment

Rising Insecurity : Experts Raises Alarm On Looming Food Shortage In Okunland

Meanwhile, Nwanisobi said that the smallholder farmers who benefited from the scheme cultivated 5.2 million hectares of farmland across the country, thereby, creating over 12.5 million direct and indirect jobs.

Under the CBN targeted Credit Facility designed to cushion the effect of the Coronavirus pandemic, the director said that the apex bank had disbursed N368.79 billion to 778, 000 beneficiaries.

He said that the beneficiaries comprised 648, 052 households and about 130, 000 Small and Medium Enterprises.

“Specifically, the bank disbursed N1.452 trillion to 337 large real sector projects in agriculture, manufacturing, services and mining under Real Sector Support Facility (RSSF),” he said.

Nwanisobi said that the CBN did it through its developmental role as enshrined in the CBN Act 2007 (as amended) led policy and financing support to about 40 interventions.

He said that the interventions were executed through the bank’s development finance initiatives.

He mentioned some of the initiatives to include the RSSF, the Agri-business/Small and Medium Enterprises Investment Scheme and the Non-oil Export Stimulation Facility among others.

Earlier, the President, Enugu Chamber of Commerce Industries, Mines and Agriculture (ECCIMA), Mr Jasper Nduagwuike, applauded the CBN for its various intervention efforts.

Nduagwuike urged the CBN to redouble its efforts in bank supervision.

“There must be a way the CBN will control the activities of fraudsters in the financial circle.

“Ponzi schemes seem to have a way of dodging the organisation until it has wrecked huge financial damage to individuals and the economy,” he said.

The ECCIMA president said that ECCIMA was proud to be associated with the bank. (NAN/vitalnews)

Tags: anchorborrowersCBNfarmer
Previous Post

NDIC pays N119.1billion to depositors, creditors, shareholders of failed banks in 2021

Next Post

Gunmen kill 12, injure 28 others in Plateau community

Vital News

Vital News

RelatedStories

Rainy Season Farming : Farmers In Osun, Ekiti, Ondo, Oyo Lament Labour Shortage, Rising Costs Of Inputs
Agriculture/ Water/ Mineral

Rainy Season Farming : Farmers In Osun, Ekiti, Ondo, Oyo Lament Labour Shortage, Rising Costs Of Inputs

May 6, 2025
Kwara Rice Farmers Hail Etsu Patigi’s Leadership At Sixth Anniversary
Agriculture/ Water/ Mineral

Kwara Rice Farmers Hail Etsu Patigi’s Leadership At Sixth Anniversary

May 6, 2025
Kogi Diversifies Economy, Acquires 15 Mining Rights, Ododo Unveils Equipment
Agriculture/ Water/ Mineral

Kogi Diversifies Economy, Acquires 15 Mining Rights, Ododo Unveils Equipment

April 12, 2025
Rising Insecurity : Experts Raises Alarm On Looming Food Shortage In Okunland
Agriculture/ Water/ Mineral

Rising Insecurity : Experts Raises Alarm On Looming Food Shortage In Okunland

April 2, 2025
Tension In Itasa Community As Residents Protest 25 Years’ Exploitation By Architype Company
Agriculture/ Water/ Mineral

Tension In Itasa Community As Residents Protest 25 Years’ Exploitation By Architype Company

March 3, 2025
Next Post

Gunmen kill 12, injure 28 others in Plateau community

Vote will count in Ekiti, Osun governorship elections - INEC assures Nigerians

Ubani calls for change in economic management to protect foreign reserve, Naira value

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Follow Us

Recommended

Nigeria’s Inflation Rises To 21.82 pct

Nigeria’s Inflation Jumps To 25.80 pct

2 years ago
I’ve Lost A Confidant, Father Figure, Gov. Bello Says During Condolence Visit to Family of Ohinoyi Ado Ibrahim

I’ve Lost A Confidant, Father Figure, Gov. Bello Says During Condolence Visit to Family of Ohinoyi Ado Ibrahim

2 years ago
Mammoth Crowd Receives Buhari, Tinubu At Bauchi APC Rally

Mammoth Crowd Receives Buhari, Tinubu At Bauchi APC Rally

2 years ago
Troops Kill 77 Terrorists, Arrest 41 Suspects

Troops Kill 77 Terrorists, Arrest 41 Suspects

2 years ago

Instagram

    Please install/update and activate JNews Instagram plugin.

Categories

  • Agriculture/ Water/ Mineral
  • Aviation
  • Business
  • Crime
  • Culture
  • Economy
  • Education
  • Entertainment
  • Environment
  • Football
  • Foreign
  • Gender
  • Health
  • Judiciary
  • Labour
  • National
  • News
  • Oil & Gas
  • Opinion
  • Opinion
  • Politics
  • Power
  • Religion
  • Security
  • Sports
  • Transport
  • Uncategorized

Topics

Abiodun Abuja APC arrest Atiku Bandits Bello Benue Buhari CBN Court Dangote death drugs Economy EFCC Election elections FG Fraud gunmen Hajj INEC Kano kidnap Kill Kogi Kwara Lagos NDLEA Niger Nigeria Ododo Ogun Oyo PDP Police Power rescue road Security Senate students Tinubu US
No Result
View All Result

Highlights

New Pope Is Chosen As White Smoke Popped Up From Sistine Chapel

2027 : APGA Adopts President Bola Tinubu As Presidential Candidate

Gov. Radda, APC Chairman Present As Three PDP House Of Reps Members Defect To APC

Police Arrest Ekiti Female University Student For Faking Kidnap To Spend Night With Boyfriend

Gov. Mutfwang Flags Off Distribution Of Dangote Food Palliative In Plateau

Labour Party Suspends Abia Governor, Otti, Nwokocha, Ireti Kingibe For Anti – party

Trending

NASCON Records100% Growth In Dividend Payout, Attributes Higher Profitability To Massive Expansion Drive
Business

NASCON Records100% Growth In Dividend Payout, Attributes Higher Profitability To Massive Expansion Drive

by Vital News
May 8, 2025
0

The Management of NASCON Allied Industries Plc, has attributed significant growth in the dividend payout by 100...

President Tinubu In Anambra, Promises To Tackle Erosion, Reactivate Gas Plan, Integrate State Into National Rail Systems

President Tinubu In Anambra, Promises To Tackle Erosion, Reactivate Gas Plan, Integrate State Into National Rail Systems

May 8, 2025
Robert Prevost Is The New Pope

Robert Prevost Is The New Pope

May 8, 2025

New Pope Is Chosen As White Smoke Popped Up From Sistine Chapel

May 8, 2025
Tinubu, Dangote Refinery And Mele Kyari’s Sack

2027 : APGA Adopts President Bola Tinubu As Presidential Candidate

May 8, 2025
ADVERTISEMENT
Vital News

Vital News is an online newspaper with a mission to uphold professional journalism by reporting and publishing only facts and figures-based news reports across Nigeria and beyond.

Recent News

  • NASCON Records100% Growth In Dividend Payout, Attributes Higher Profitability To Massive Expansion Drive May 8, 2025
  • President Tinubu In Anambra, Promises To Tackle Erosion, Reactivate Gas Plan, Integrate State Into National Rail Systems May 8, 2025
  • Robert Prevost Is The New Pope May 8, 2025

Categories

  • Agriculture/ Water/ Mineral
  • Aviation
  • Business
  • Crime
  • Culture
  • Economy
  • Education
  • Entertainment
  • Environment
  • Football
  • Foreign
  • Gender
  • Health
  • Judiciary
  • Labour
  • National
  • News
  • Oil & Gas
  • Opinion
  • Opinion
  • Politics
  • Power
  • Religion
  • Security
  • Sports
  • Transport
  • Uncategorized

© 2022 Vital News - . All Rights Reserved.

No Result
View All Result
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security

© 2022 Vital News - Vital News by Vital News.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In