The Central Bank of Nigeria (CBN) has said that no fewer than 5, 000 maize farmers in Plateau State will benefit from a new loan to be given out under the Anchor Borrower’s Programme for the 2020 wet season planting.

Head of Development and Finance at CBN Jos Branch Office, Mrs Helen Temtsen, made this disclosure at the launch of distribution of inputs to beneficiary farmers on Monday

Temtsen explained that the programme, which began in Plateau State in 2018 had 339 maize farmers beneficiaries in 2018, and 3, 396 in 2019.

“For this year’s wet season, 5, 016 farmers will benefit,” she added. Temtsen noted the programme has generally supported at least 18, 140 farmers in the state to improve the production of rice, maize, cotton and sorghum

The branch head noted that for the 2020 season, the programme will attract five per cent interest rate instead of the usual nine per cent as a result of the novel Coronavirus (Covid-19) pandemic.

On his part, Jos Branch Controller of CBN, Mr Yusuf Duniya, warned the beneficiaries against diversion of the inputs. Duniya warned that anybody found selling the inputs in the market will be delisted from the programme.

He added, “Government through the CBN has introduced this programme basically to curtail importation and improve local production.

“It was also introduced so as to enable the huge production of raw materials that will serve our industries and make them functional.”

Duniya, who pointed out that the intervention was not a grant but a loan to be repaid in six months, also urged farmers to ensure quick.

SOURCE: AGRONIGERIA