CBN Approves N75.9bn Mortgage To Farmers In Two Months

The Central Financial institution of Nigeria (CBN) disbursed N75.9 billion mortgage to farmers between November and December 2021, underneath the Anchor Debtors’ Programme (ABP).

The fund was to assist the cultivation of over 383,000 hectares of maize, rice and wheat throughout final 12 months’s dry season, bringing the cumulative disbursements underneath the Programme to N927.94 billion to over 4.5 million smallholder farmers cultivating 21 commodities throughout the nation.

In a CBN report, the apex financial institution stated extra output aggregated from the financed farmers could be launched to the Nigeria Commodity Alternate (NCX) to assist average the costs of meals out there.

The financial institution additionally launched N1.76 billion to finance two large-scale agricultural tasks underneath the Industrial Agriculture Credit score Scheme (CACS).

As well as, the apex financial institution disbursed N151.23 billion underneath the Actual Sector Facility to fifteen further tasks in agriculture, manufacturing, mining, and providers.

The funds have been utilised for greenfield and brownfield (enlargement) tasks underneath the COVID-19 Intervention for the Manufacturing Sector (CIMS) and the Actual Sector Help Facility from Differentiated Money Reserve Requirement (RSSF-DCRR).

Based on the report, cumulative disbursements underneath the Actual Sector Facility stood at N1.40 trillion disbursed to 331 tasks throughout the nation.

To assist the resilience of the healthcare sector, the financial institution additionally disbursed N498.00 million to 2 healthcare tasks underneath the Healthcare Sector Intervention Facility (HSIF), bringing the cumulative disbursements to N108.85 billion for 118 tasks, comprising of 31 prescription drugs, 82 hospital and 4 different providers.

To assist households and companies affected by COVID-19, the financial institution disbursed N20.29 billion to 40,521 beneficiaries, comprising 35,340 households and 5,181 small companies underneath the Focused Credit score Facility (TCF) throughout the interval.