The Central Bank of Nigeria (CBN)’s Anchor Borrowers scheme under its Development Finance unit, which is meant to provide loans to small holders farmers and small businesses has began reaching out to States of the federation to get each state concentrate on crops it enjoys comparative advantage.
Paul Iwe, leader of the CBN’s Development Finance team on a visit to Rivers State, disclosed in Port Harcourt on Friday that the apex bank has earmarked N220 billion for the Anchor Borrowers Programme for the purpose of providing loans to small holders farmers and small businesses.
He hinted that under the programme, each state would be made to grow agriculture, as well as expand the numbers of small businesses.
The representative of the CBN Governor then assured the Rivers State Government that the apex bank would provide the required credit facilities to grow the agricultural sector.
He noted that Rivers State would be fully accommodated in the N220 billion Anchor Borrowers Programme for small holders farmers and small businesses.
Meanwhile, Rivers State Governor, Nyesom Wike has declared that his administration would create thousands of employment opportunities using agriculture and small and medium enterprises.
Speaking at the Government House, Port Harcourt on Friday when he granted audience to the Development Finance team of the CBN, Governor Wike said, the state government would support small holders farmers to produce cash crops in areas where the state has comparative advantage.
He said under the present economic reality, investment in agriculture is the best approach towards reducing food imports and conserving scarce foreign exchange
The governor called on the Central Bank of Nigeria to extend the needed credit facilities to develop agriculture in the state.
He said: “We are committed to the reduction of importation of food through the development of our agricultural sector. We believe that reduced food importation will create more jobs for our people. We will fully participate in the Anchor Borrowers Programme because this programme will help us in our quest to create employment through agriculture. The programme should be sustained despite the pressures that will come.”