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CBN set to dole out N270,000 loan each to farmers in Bauchi

By Haruna Kazaure, Bauchi
Central Bank of Nigeria (CBN) under its ANCHOR Borrower Programme has promised to dole out a loan of N270,000 each to farmers in Bauchi State.
Commissioner for Water Resources, Alhaji Abdulhamid Ma’aji made the disclosure on Saturday in Kirfi town, while addressing farmers at one day training on Irrigated Rice Production.
Ma’aji, who is also overseeing the Ministry of Agriculture, said that the figure was arrived at following a re-negotiation between the state government and the CBN and that the figure was slashed from N367,000 to N270,000.
This is coming just as he added that each participating farmers would be provided with fertilizer, herbicides, insecticides, water pumps, land preparation, seeds and other inputs to be able to farm this year.
Ma’aji therefore urged farmers to utilize the fund for the purpose it was meant for to enable them benefit from the gesture.
Deputy Director, Development Finance, CBN, Bauchi, Alhaji Masaud Tule had earlier called on farmers to complete their initial deposits of N15,000 being five per cent of the total package into their individual account before the disbursement of the fund.
Tule said that farm inputs would be provided to participating farmers as parts of the loan, while the remaining balance would be released to them.
He said that the new system was to avoid the old system where they were paid directly to farmers without due process being followed.
The director said that it would improve the economic status of the participating farmers and the country at large.
Some of the farmers who spoke, called on the state government to construct small earth dams in various locations to boost dry season farming.
They also called on the state government to provide individual farmers and groups with small machines, such as harvesters and hand tilling machines.

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