The Central Bank of Nigeria (CBN) has made provision of over N5.7 billion loan to 10,000 farmers to boost dry season wheat farming in Bauchi state.
The CBN Comptroller, Saladu Idris, Bauchi Branch, made the disclosure on Thursday at the flag-off of the programme at the NUJ secretariat in Bauchi.
Idris stated that 4,500 farmers in the state have so far received support from the programme.
He noted that the items to be provided for farmers include; N370,000 cash, six bags of urea, four bags of NPK fertiliser, pumping and spraying machines.
“This dry seasoning farming is a very easy thing that people can do. The CBN has observed that all the flour mills in Nigeria have become moribund; everything is at a standstill,” Idris said.
“It observed that wheat is imported into the country, and this requires the use of dollars which is difficult to access. It is as a result of this that the CBN decided to set aside some money to give farmers to encourage the farming of this wheat.
“Each farmer is supposed to get a minimum of N370,000 per hectare and the other inputs, which include the bags of seedlings, the six bags of urea, four bags of NPK, the pumping machine, and the spraying machine. All these were given to farmers per hectare.
“The total amount of money set aside by the Central Bank of Nigeria for wheat farming in Bauchi State alone is over N5.7bn. We have budgeted to fund 10,000 farmers. So far, we have distributed to about 4,500 farmers in Bauchi State.”
The comptroller, also stated that the new seedlings were sourced from Mexico and have a shorter time for cultivation, unlike the local one that takes a longer period.
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