CBN sets aside N5.7 billion loan for 10,000 Bauchi wheat farmers (Photos)


CBN sets aside N5.7 billion loan for 10,000 Bauchi wheat farmers (Photos)

The Central Bank of Nigeria (CBN) has set aside over N5.7 billion loan for 10,000 farmers to encourage dry season wheat farming in Bauchi State.

The CBN Governor, Mr Godwin Emefela stated this at the official flagging off of wheat imput loan for 2021/2022 raining season held at press centre Bauchi.

Represented by the state branch controller of the bank, Haladu Idris Angaza advised wheat farmers in the state to fully engage in harvesting the product to boost their economic status and that of the state.

He urged them to work with the experts in agriculture to have knowledge in modern farming techniques, to enhance their income.

Emefela recalled that farming activities remain one of the key players toward providing job opportunities, and way of benefiting any interventions by the federal government.

He said that about 4,500 farmers have so far benefitted from the programme in the state.

Emefela said that CBN has taken proactive steps by reaching out to the farmers through associations so that only those targeted would benefit.

He said, “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. It observed that wheat is imported into the country and this requires the use of dollars which is difficult to access and it is as a result of this that the CBN decided to set aside some money to give farmers to encourage wheat farming.

“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 are given to a farmer per hectare.

“The total amount of money set aside by the Central Bank of Nigeria for wheat farming in Bauchi State alone is over N5.7 billion. We have budgeted to fund 10,000 farmers. So far, we have distributed to about 4,500 farmers in Bauchi State.

“The new seedlings were brought in from Mexico and these seedlings have a shorter time of cultivation, unlike the local one that takes a longer period of time. The Mexicans came into Bauchi about three weeks ago and they were taken around the 20 local government areas of the state and they saw the areas to be used for the cultivation.”

The CBN governor lamented that some farmers under the Anchor Borrowers Scheme for rice farming have defaulted and have failed to pay back the loans.

He said, “Most people have paid back but there are a few who have failed to pay back. We called the leaders of the rice farmers associations and reported these people to them. They gave us the assurance that they will follow them up and ensure that they pay.”

In his keynote address, the state Commissioner of Agriculture and Rural development, Barrister Jidauna Mbami Tula said the loan policy of flour milled would create more participation in agricultural activities among the people in the state which would bring positive change.

The Commissioner, therefore, called on the beneficiaries to judiciously utilise the opportunity and return the money as they promised earlier.

The Emir of Bauchi, Dr Rulwanu Adamu represented by the District Head of Lame, Alhaji Yakubu Lame applauded the effort of the members of the Association and other beneficiaries to fulfill the promise.

Some beneficiaries who were interviewed expressed delight and promised to properly utilize the loans accordingly.

CBN sets aside N5.7 billion loan for 10,000 Bauchi wheat farmers (Photos)


Please enter your comment!
Please enter your name here