Kano State Government has formally launched the state/CBN Anchor Borrowers Scheme in its efforts to diversify agricultural production for food security, job creation and economic diversification.
The state governor, Abdullahi Umar Ganduje, who was represented by the Deputy Governor, Professor Hafiz Abubakar explained that the scheme was in line with the federal government’s resolve to seek non-oil sources of revenue, in the light of the dwindling price of crude oil.
The Anchor Borrowers Scheme was conceived out of the CBN’s resolve to achieve a strong and viable agricultural base with more integrated value chains, enhanced food security, fewer imports and higher productivity. It would also help local farmers increase production and supply of feed stock to processors, reduce importation and conserve foreign exchange.
Abubakar noted that the project will launch the country from an oil-based to agro-inclined economy. He also called on farmers to embrace the scheme, introduced by the federal government in its economic diversification drive. He urged the farmers to ensure they use the loan strictly for the purpose for which it was meant.
Representative of the Central Bank of Nigeria, Alhaji Abdulkadir Ahmad, said the scheme aims at creating economic linkages between smallholder farmers and reputable large-scale processors with a view to increasing agricultural output and significantly improving capacity utilisation of integrated mills.
Ahmad further explained that the scheme intends to among others, provide rice farmers, with one to five hectares of land, water pumps and fertilizer.
He said the CBN would open accounts with names of the respective farmers, who have expressed interest to participate in the scheme. It would also collate information on their requirements, so as to procure it from the companies participating in the scheme.
