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CBN announces N432b fund to support rice farmers, others

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The Central Bank of Nigeria (CBN) has announced the sum of N432 billion to support farmers of nine key commodities for the 2020 planting season.

Director of Development Finance at the CBN, Mr. Yusuf Yila, announced this, on Thursday, at a meeting organised by the apex bank for farmers under its Anchor Borrowers’ Programme, in Abuja.

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He listed the commodities to include rice, maize, poultry, cassava, tomatoes, fish, cotton, cocoa, and dairy.

According to Yila, the intervention is expected to produce over 8.3 million metric tonnes of the targeted commodities.

Details later…