CBN’s loan scheme to benefit 75,000 wheat farmers

Wheat farm

Wheat farm

The Wheat Farmers Association of Nigeria (WFAN) in Kano State on Wednesday commenced the registration of its members interested in the Central Bank of Nigeria’s (CBN) anchored borrower’s programme.

Alhaji Faruk Rabi’u, the state chairman of WFAN, said this in Kano.

The registered wheat farmers are expected to use the loan to cultivate the commodity during this year’s dry season farming.

The programme was introduced by the Federal Government to support farmers to boost rice and wheat production in the country.

“We have commenced registration of our members for the CBN anchor programme ahead of the upcoming dry season.

“We plan to register 75,000 wheat farmers who will benefit from the loan in the state,” he said.

Rabi’u said the decision to commence the registration was borne out of the association’s effort to process the loan on time to enable farmers prepare before the dry season.

According to him, farmers are required to open an account with one of the commercial banks as one of the conditions before accessing the loan.

“So, we want to make sure that all registered farmers fulfill the conditions for accessing the loan before the dry season farming commences,” he said.

Rabi’u, however, expressed optimism that the programme would go a long way in boosting wheat production in the country.

He, therefore, called on farmers in the state to make the best use of the opportunity provided by the present administration, to enhance their socio-economic status.

Under the CBN anchor borrowers’ scheme, each farmer was expected to collect seedlings, fertilizer, chemicals and water pump which represent a total package of N220, 855.

Each farmer was also expected to cultivate one hectare and repay the loan after harvesting the commodity.

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Source:: PM Newspaper