Bauchi flags-off Anchor Borrower’s scheme with 20,000 farmers

Bauchi State government has launched the Anchor Borrower’s Scheme with 20,000 farmers that registered for the scheme. The scheme was initiated by the federal government through the Central Bank of Nigeria (CBN) as an agricultural intervention to help farmers boost production   Governor Mohammed Abubakar officially launched the scheme in Bauchi State at Gadar-Maiwa town. Speaking […]

Bauchi State government has launched the Anchor Borrower’s Scheme with 20,000 farmers that registered for the scheme.

The scheme was initiated by the federal government through the Central Bank of Nigeria (CBN) as an agricultural intervention to help farmers boost production 

 Governor Mohammed Abubakar officially launched the scheme in Bauchi State at Gadar-Maiwa town.

Speaking at the flag-off of land preparation for the programme, he said his administration will give priority to programmes like the Anchor Borrowers Scheme.

Governor Abubakar said the state government has in addition to other supports agreed to is pay off the 9% interest on the loan to be granted farmers in the programme.

“The government has placed a high priority to agriculture, especially laudable programmes like the Anchor Borrowers Scheme, as part of efforts to empower the people, create job opportunities and tackle the challenges of food security,” he said.

In his address, the lead consultant in charge of the programme in Bauchi State, Dr Abdulmalik Nura, said out of the 20,000 registered farmers, 10,000 had so far been screened by field officers and representatives of participating banks.

He said they have concluded all input assessment of irrigated rice production module for the state, which currently stood at N370, 000 per hectare.

“The aim of the programme is to create economic linkage between small holder farmers and reputable large scale processors. Each bonafide farmer is now expected to deposit N18, 500, which is his mandatory 5 per cent equity contribution as prescribed by the Anchor Borrowers Programme (ABP) guideline,” he said.

In his address,Bauchi Branch Controller of CBN, Musa Muhammad, said the target of the programme in the state was to create economic linkages between over 100,000 small-holder farmers and reputable large scale processors in the state.