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Unity Bank CEO, Mrs Tomi Somefun disclosed last week that her bank which is an outlet for CBN’s Anchor Borrowers’ Scheme for farmers will support 120,000 maize farmers during this year’s maize planting season.
Since the launch of the scheme in 2015, 3.8 million farmers have so far benefited from the Anchor Borrowers’ Programme (ABP), as N554.61 billion has so far been disbursed to the beneficiaries through the programme since its inception.
This year’s scheme comes on the heels of President Buhari’s announcement in March 2021, that he approved the sum of N600 billion to take advantage of this year’s rainy season and enhance food production.
READ: CBN asked to hand over Anchor Borrowers Programme to Agric Ministry
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The scheme is one of the Federal Government-funded initiatives aimed at tackling food insufficiency, diversify the economy away from oil, creating jobs for the youth and reducing poverty.
So how does a farmer apply?
After receiving feedback from readers last week, Nairametrics spoke to a rep of Unity Bank on Monday who wants to remain undisclosed on the process of applying for an Anchor Scheme loan.
“Unity bank is an outlet, as it is a federal government programme aimed at funding operations of farmers in Nigeria,” the rep says.
Read: How to apply for CBN’s N5 billion ‘100 for 100 PPP loan’
The most important first step is to be a member of a farming union that falls under the scheme including Rice Farmers Association and Maize Association of Nigeria.
The banking outlet/CBN partner works with the Union through creating accounts for the members and farmers which enables the Bank to run its checks of eligibility on prospective farmers for the loans,” he adds.
READ: CBN’s Emefiele vows to reject the continuous importation of maize in Nigeria
What you should know
Nigeria’s agriculture sector GDP contribution grew by 2.17% compared to 2.36% recorded in 2019; and by 3.42% in real terms in Q4 2020 compared to a growth of 1.39% (year-on-year) recorded in the previous quarter (Q3 2020).
I need a form to apply for the anchor borrower’s scheme
I need a form for anchor borrow loan
I need the loan to expand my farms.will be grateful if CBN grant me the loan
I need the loan to expand my farm. Will be grateful if cbn grant me the loan
How do I apply it
I need to a form to apply for the anchor borrower’s scheme
I want apply the loan
I need the loan for my farm to be expanded more
For the geoagro coop, we have acquired twenty hectares as stipulated for the program, what is CBN still doing to give us a feed back or is our application yet to reach them? Note, it is supposed to be for dry season farming.
How do l apply thereo anchor loan
Great initiatives, if properly managed
I need a form for the anchor borrower scheme
Iam interesting how do I apply please
Am a farmer I wish to apply to add more in my farm
How can apply for the loan, i m a farmer of soya beand
How can I register as a member of the farming union?
Hello Dooshima, I read your comment under the CBN farmers loan, please how can I join farmers union?
Every Farming union is associated to a crop. What type of crop are you farming? Your answer would determine the the Association you would belong to.
please do you belong to any farmers cooperatives?
am interested in joining.
thanks.
How do I apply for the loan and what is the requirements?
What’s the procedure to apply, I need it
How can I become a member of the maize farmer association in Kaduna state. Thank you.
We in cross river state are always not favoured for these federal govt. loans since inception. My cooperative society applied for the AGSMEIS / GEOAGRO Cooperative loans and till this hour nothing is heard about our applications .what are the guidelines for this one and who is the govt representative in cross river?