By Bisola Adeyemo
The Central Bank of Nogeria (CBN) Governor, Godwin Emefiele said it has disbursed N1.487 trillion under its various agricultural programmes to boost food security, also boost electricity supply as well as health financing.
The CBN Governor, Godwin Emefiele, made this known while presenting the communiqué at the Monetary Policy Committee (MPC) meeting held in Abuja.
Mr Emefiele said that the apex bank disbursed N107.60 billion to 548,109 farmers cultivating 703,619 hectares of land between the fourth quarter of 2020 and the first quarter of 2021 to boost dry season output.
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His word “total disbursements as at end-February 2021 amounted to N1.487 trillion under the various agricultural programmes, of which N686.59 billion was disbursed under the Commercial Agricultural Credit Scheme (CACS).
“The bank also disbursed N601.75 billion under the Anchor Borrowers Programmes (ABP) to 3,038,649 farmers to support food supply and dampen inflationary pressures.
“Under the Targeted Credit Facility, the bank has disbursed N218.16 billion to 475,376 beneficiaries, of which 34 per cent of beneficiaries are SMEs.
“Under the Agri-Business/Small and Medium Enterprise Investment Scheme (AGSMEIS), N111.62 billion has been disbursed to 28,961 beneficiaries, 70 per cent of which are in the agricultural sector.’’
The governor said that the CBN had also made a huge investment in youth development through the creative industry, efforts to boost electricity supply as well as health financing.
