• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Business News

CBN Injects N4.9 Billion Loan To Rice Farmers

Chris Pemu by Chris Pemu
April 25, 2016
in Business News, Politics, Spotlight
CBN Gov Godiwn Emefiele
Share on FacebookShare on TwitterShare on Linkedin

Governor of the Central Bank of Nigeria, (CBN) Godwin Emefiele on Sunday, said that a total of N4.9bn has been provided as loans to rice farmers under its anchor borrower program.

He made this disclosure while touring farmlands in Kebbi State cultivated under the intervention program of the CBN.

The Czar of the apex bank explained that through the intervention programme, a total of 78,581 farmers were mobilized in Kebbi State under the intitiaive, with a total of 570,000 direct jobs created in the process.

RelatedStories

Bank customers with CBN rise to 57 million in April 2023

EFCC arraigns Emefiele over ‘753 Housing Unit’ as ex-CBN governor gets N2 billion bail 

June 16, 2025
Bank customers with CBN rise to 57 million in April 2023

Emefiele earned N350 million annually as CBN governor, court document reveals 

June 16, 2025

Emefiele described the current scarcity of foreign exchange confronting the nation as a blessing in disguise as local production of various essential products are now being given top priority.

According to a statement released of Sunday,

“The Governor stated that the success recorded by the rice farmers in Kebbi state has rekindled hope in the ability of Nigeria to be self sufficient in rice and wheat production.

“He noted that with the sum of N210,000 granted to each farmer, they are able to cultivate a hectre of rice.

“He disclosed that a total of 78,581 farmers were mobilized in Kebbi state under the Anchor Borrowers Programme. The farmers are already looking forward to a total of one million metric tons rice this year.

“The CBN Governor stated that with the disbursement of N4.9bn as loans to the farmers, over N570,000 direct jobs have been created and saved.”

If you must know, the anchor borrower program is designed to create economic linkages between farmers and processors, not only to ensure increased agricultural output of rice and wheat, but also close the gap between production and consumption.

Under the programme, the CBN has set aside N40bn out of the N220bn Micro Small and Medium Enterprises Development Fund to be given to farmers at single digit interest rate of nine per cent per annum.

Also, smallholder farmers are entitled to loans ranging from N150,000 to N250,000 to assist them in procuring necessary agricultural inputs like seedlings, fertilizers, pesticides, among others, to help boost agricultural outputs and productivity

Tags: Financial ServicesGodwin Emefiele
Chris Pemu

Chris Pemu

Related Posts

Bank customers with CBN rise to 57 million in April 2023
Business News

EFCC arraigns Emefiele over ‘753 Housing Unit’ as ex-CBN governor gets N2 billion bail 

June 16, 2025
Bank customers with CBN rise to 57 million in April 2023
Business News

Emefiele earned N350 million annually as CBN governor, court document reveals 

June 16, 2025
Emefiele: Forensic expert confirms to court how Buhari, Ex-SGF signatures were forged to withdraw $6.2 million from CBN 
Financial Services

Bank officials to testify as EFCC sues Ex-CBN Governor Emefiele over 753 housing units and N7.8 billion fraud 

May 31, 2025
Bank customers with CBN rise to 57 million in April 2023
Business News

Former aide admits no record of alleged $400,000 payment to ex-CBN Gov. Godwin Emefiele

May 27, 2025
Suspension of Emefiele was long foreseen – Uwaleke
Business News

FG to sell 753-unit estate recovered from former CBN Governor Emefiele to Nigerians 

May 21, 2025
Bank customers with CBN rise to 57 million in April 2023
Legal & Regulations

Judge rejects Godwin Emefiele’s request to withdraw self from EFCC’s corruption case 

February 26, 2025
Next Post
Kaduna Refinery: Lifting of PMS Will Commence Today – Official

Kaduna Refinery: Lifting of PMS Will Commence Today - Official

Comments 1

  1. Josiah Ilori says:
    April 25, 2016 at 9:27 pm

    SO FAR, THIS IS THE BEST APPROACH IN SOLVING THE SCARCITY OF FOREIGN EXCHANGE IN THE COUNTRY. A REVIEW OF THE AMOUNT SPENT ON THE IMPORTATION OF RICE TO THE COUNTRY LAST YEAR WILL CONVINCE EVEN OUR ENEMIES THAT THE CENTRAL BANK OF NIGERIA HAS TAKEN THE RIGHT DIRECTION BY MAKING THESE SOFT LOANS AVAILABLE TO KEBBI STATE FARMERS. SUCH A SOFT LOAN SHOULD BE MADE AVAILABLE TO OTHER RICE PRODUCING AREAS OF THE FEDERATION. UNDOUBTEDLY, HUGE SUCCESS IS ANTICIPATED FROM THESE FARMERS AND THE FOREIGN EXCHANGE SHAVED TO BE JUDICIOUSLY UTILIZED TO ENHANCE CAPITAL INVESTMENTS IN THE COUNTRY. FUNDS MADE AVAILABLE SHOULD BE MONITORED SO AS TO REDUCE MANIPULATION OF SUCH LOANS TO ANOTHER UNPRODUCTIVE VENTURES. I WOULD HAVE ADVISED REDUCTION OF PROSPECTIVE FARMERS TO A MANAGEABLE PROPORTION. CONCLUSIVELY, THE SYSTEM AS INTRODUCED TO KEBBI STATE FARMERS, WOULD SUCCEED AND SUCH DEVISE SHOULD BE INTRODUCED IN OTHER AREAS IN ORDER TO DIVERSIFY THE ECONOMY.

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank








DUNS

Recent News

  • Abia Govt secures $263.8 million from AfDB, IsDB for road, erosion, and waste management projects 
  • EFCC secures jail term, forfeiture of N653 million from traveller who concealed cash at Kano Airport 
  • FG adopts front-of-pack labelling to tackle diet-related diseases and cut NCD deaths

Follow us on social media:

Recent News

AfDB, AI

Abia Govt secures $263.8 million from AfDB, IsDB for road, erosion, and waste management projects 

July 16, 2025
EFCC secures jail term, forfeiture of N653 million from traveller who concealed cash at Kano Airport 

EFCC secures jail term, forfeiture of N653 million from traveller who concealed cash at Kano Airport 

July 16, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics