4,000 Farmers To Benefit From First Phase Of CBN N2Bn Anchor Borrowers Scheme In Delta

Four thousand of over sixty thousand farmers registered across the selected enterprises of Cassava, Rice and Fisheries are to benefit from the Central Bank of Nigeria (CBN) N2billion Anchor Borrowers Scheme (ABS) in Delta state.

State Commissioner for Agriculture and Natural Resources, Chief Austin Chikezie, made the disclosure yesterday at the ongoing Ministerial Press Briefing in Asaba, the stste capital.

Presenting activities and achievements of his Ministry, Chief Chikezie disclosed that about four thousand farmers had been fully accredited and approved by the Central Bank of Nigeria (CBN) to participate in the first phase of the programme.

The Commissioner stated that as part of requirement for qualification to participate, farmers were expected to own verifiable farm sites, to open an account with the Bank of Agriculture (BOA) and to provide their Bank Verification Numbers (BVN).

According to the Commissioner, certified input suppliers and reliable off-takers had been screened and selected for the execution of the programme, adding that CBN had set aside N2 Billion to implement the programme in the State.

He said that the programme would be implemented in collaboration with the Delta State Ministry of Agriculture and Natural Resources and the Bank of Agriculture, and that the payment for the supply of inputs to participants had commenced.

This Anchor Borrowers Scheme, Chief Chikezie, explained, was a financial model for small holder farmers in Rice, Cassava and Fish, designed to increase production and supply raw materials to food processors.

Through this scheme, he said, qualified commodity out growers were assisted to identify an anchor firm (Off taker / processor) and supported with loans at 9% interest rate by the CBN to increase their farm holdings. High quality inputs and technical assistance are also provided for them.

He disclosed that the State Government had given approval for the States participation in the Accelerated Agricultural Development Scheme (AADS), saying that it was a special project for the empowerment of youths within the ages of 18-35 years in cluster farms not less than 100 Hectares, under the Anchors Borrowers model.

The Agriculture Commissioner noted that the maximum loan facility of the programme was N1.5 Billion and that Delta State was participating in tomatoes and fishery clusters.

He added that a total of 760 youths had been profiled for the tomatoes cluster which he said would utilize the Green House Technology, saying that over 500 youths had also been profiled for the fisheries clusters.