Agriculture Intervention Fund: CBN Expends N12.65bn on Anchor Borrowers Programme

The Central Bank of Nigeria (CBN) has spent N12.65 billion on the Anchor Borrowers Programme (ABP), its flagship agriculture intervention scheme since January2023 till date.

CBN Governor, Godwin Emefiele who disclosed this in Abuja recently at the end of the Monetary Policy Committee (MPC) meeting of the apex bank, a total sum of N1.09 trillion has been disbursed under the ABP since inception in 2015.

“Between January and February 2023, the bank disbursed N12.65 billion to three agricultural projects under the ABP. It brings the cumulative disbursement under the programme to N1.09 trillion to more than 4.6 million smallholder farmers cultivating or rearing 21 agricultural commodities on an approved 6.02 million hectares of farmland,” Emefiele said.

According to him, the CBN had also disbursed huge sums as intervention to various other sectors of the economy.

“The CBN also released the sum of N23.70 billion under the N1.0 trillion Real Sector Facility to eight new real sector projects in agriculture, manufacturing, and services.

“Cumulative disbursements under the Real Sector Facility currently stands at N2.43 trillion disbursed to 462 projects across the country, comprising 257 manufacturing, 95 agriculture, 97 services and 13 mining sector projects,” he said.

Emefiele added that the apex bank also released N3.01 billion under the Nigerian Electricity Market Stabilisation Facility (NEMSF-2) for capital and operational expenditure of electricity distribution companies (Discos).

“The facility was aimed at improving liquidity status of the Discos, and aiding their recovery of legacy debt. This brings the cumulative disbursement under the facility to N254.39 billion.”

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