The Central Bank of Nigeria (CBN) has advised farmers in Enugu State to form cooperatives in order to benefit enormously from the apex bank’s Anchor Borrowers Scheme.
The Anchor Borrowers Scheme is a CBN initiative to empower farmers in cooperative societies to get loans at single-digit interest rate from the apex bank to produce, package, refine and market farm produce.
The CBN Governor, Dr Godwin Emefiele, gave the advice on Friday during CBN’s Special Day at the ongoing 2017 Enugu International Trade Fair.
Represented by Mr Emmanuel Okonjo, CBN’s Branch Controller in Enugu, Emefiele said that the CBN targeted 20,000 farmers to benefit from the apex bank’s anchor borrowers in Enugu State.
“Enugu State will produce rice twice a year – rainy and dry season farming – as well as participate in all the value chain of rice production in the scheme.
“However, it is regrettable that Ebonyi State is far ahead of Enugu State since we have only something above 1,000 farmers with BVN captured in the state by the CBN.
“I have spoken with Gov. Ifeanyi Ugwuanyi who has personally promised to mobilise farmers in the local areas of the state to meet the number of farmers required for the scheme in the state.
“I must tell you that some states, especially Ebonyi State, is already doing well in this rice production programme,’’ he said.
Emefiele said that various initiatives the bank had rolled out were to encourage inclusive growth of all sectors and increase wellbeing of the people in the country.
He urged Nigerians, especially the political class and opinion leaders to support CBN to financially reposition the country for economic advancement.
Rev. Ugochukwu Chime, the President, Enugu Chamber of Commerce, Industry, Mines and Agriculture (ECCIMA), thanked CBN for stimulating economic growth for the people.
“We are happy for the CBN coming to interface with the general public through this fair and we solicit that this new friendship will continue,’’ Chime said.
The Enugu International Trade Fair, which is being supported by the Federal Ministry of Trade and Investment, is organised to provide a platform for showcasing Nigeria’s non-oil commodities with export potential.
The exhibition also provides an opportunity for local and foreign businesses to explore and access commercially viable markets in the South-East geo-political zone.
The theme of the 28th edition of the fair, which will end on April 10, is: “Promoting Nigeria’s Industrial Sector and SMEs for Inclusive and Robust Economy”.