225,000 farmers to benefit from CBN's borrowers programme

225,000 farmers to benefit from CBN's borrowers programme

- No fewer than 225,000 farmers are set to benefit from a new the Central Bank of Nigeria' anchor borrowers programme

- The programme will be used to deploy an innovative nationwide field structure to support the 225,000 farmers under the CBN Anchor Borrowers Scheme

- The programme will play an important supportive role in assisting the farmers

Some farmers will be benefitting from the Central Bank of Nigeria's 225,000 anchor borrowers programme

The programme initiated through the Nigeria Incentive-Based Risk Sharing System for Agriculture (NIRSAL) will be used to deploy an innovative nationwide field structure to support the 225,000 farmers under the CBN Anchor Borrowers Scheme.

The programe termed the "Project Monitoring Reporting and Remediation Office (PMRO)" also has units located in each state of Nigeria and the Federal Capital Territory.

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Legit.ng gathered that the 225,000 farmers being supported include a minimum of 5,000 farmers in 37 locations - 36 states and the FCT.

Speaking on the development, the managing director of NIRSAL, Aliyu Abdulhameed, said that the PMROs will play an important supportive role in assisting the farmers.

Abdulhameed said: “The PMRO structure is very critical to our operations. Agriculture is a field business. They would act as our eyes to ensure that agricultural projects that we facilitate finance for are executed in line with agreed terms and also serve to extend the reach of our interventions."

He also said the PMROs will also have the responsibility of capturing the impact of NIRSAL’s interventions on communities, individual farmers and other players along the agricultural value chain.

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“The positive impact made is the justification for our existence so it’s critical to constantly measure and review the impact of our interventions," Abdulhameed said.

He noted that the function of the PMRO office in each state is to generate new projects where necessary, supervise existing ones and mobilize the community to support and own as well as enjoy the positive impact of NIRSAL projects.

Also, Steven Ogidan, the national coordinating consultant overseeing the PMRO structure believes that, “the closeness of the PMROs to project sites and the embedding of project monitoring services within the project sites of any project that is more than 500M ensures effective monitoring and reduces the risk of loan diversion.”

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Legit.ng earlier reported that the national president, Rice Farmers Association (RIFAN), says the market prices of locally produced rice will soon crash.

Alhaji Aminu Goronyo says this would be achieved under a joint programme of RIFAN and the Anchor Borrowers Programme (ABP) of CBN.

He says the new initiative would double the achievements of the earlier edition of ABP.

Ebonyi state, Nigeria and West Africa's food capital - on Legit.ng TV

Source: Legit.ng

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