The Central Bank of Nigeria’s principal agriculture assistance programme, Anchor Borrowers Programme (ABP), has received N12.65 billion funding since January 2023. This was disclosed by the CBN Governor, Mr. Godwin Emefiele, in Abuja, when he read the statement that the Monetary Policy Committee (MPC) of the apex bank had issued following its 290th meeting. According to Emefiele, the total amount spent under the ABP since its commencement in 2015, was N1.09 trillion.
“Between January and February 2023, the bank disbursed N12.65 billion to three agricultural projects under the ABP. It brings the cumulative disbursement under the programme to N1.09 trillion to more than 4.6 million smallholder farmers cultivating or rearing 21 agricultural commodities on an approved 6.02 million hectares of farmland. CBN also released the sum of N23.70 billion under the N1.0 trillion Real Sector Facility to eight new real sector projects in agriculture, manufacturing, and services. Cumulative disbursements under the Real Sector Facility currently stand at N2.43 trillion disbursed to 462 projects across the country, comprising 257 manufacturing, 95 agriculture, 97 services, and 13 mining sector projects”, adding that the Central Bank of Nigeria additionally launched N3.01 billion below the Nigerian Electricity Market Stabilisation Facility (NEMSF-2) for capital and operational expenditure of power distribution companies.
