Central Bank Of Nigeria Loans To ABP Farmers Hit N976bn – Report

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The CBN has disbursed N975.61bn to farmers across the country under the Anchor Borrowers’ Programme. Figures obtained from CBN showed that this amount was released to over 4.52 million smallholder farmers as of February 2022.

CBN assigned the duty of providing insurance cover and assessing risk of farmers under its Anchor Borrowers’ Programme to underwriting firms.

The revised guidelines addressed current realities and developments in the ABP. And also aims at promoting best practices in the implementation of the programme. It also adopted measures to ensure the protection of smallholder farmers.

The CBN outlined eligibility criteria and responsibilities of relevant stakeholders under the programme eligible for financing under the programme.

It noted that the broad objective of the ABP was to create economic linkages between smallholder farmers and processors with a view to increasing agricultural output and ensuring food price stability.

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