President Muhammadu Buhari will tomorrow launch the ‘Anchor Borrowers’ Programme’ (ABP) for rice farmers in Kebbi State.
The programme is designed in assisting small scale farmers to increase the production and supply of feedstock to agro-processors.
This is an initiative of the Central Bank of Nigeria (CBN), aimed at creating an ecosystem to link out-growers to local processors, increase banks’ financing to the agricultural sector enhance capacity utilisation of agricultural firms involved in the production of identified commodities and as well as the productivity and incomes of farmers.
The policy document of the programme also indicated that it will build capacity of banks in lending to farmers and entrepreneurs in the value chain and reduce commodity importation. It will also reduce the level of poverty among small holder farmers and create jobs while assisting rural small-holder farmers to grow from subsistence to commercial production levels.