Page 23 - Borrower Programme News Today

Is your association not captured in the CBN’s ABP? The association has been in existence for the past two years but we did not apply for ABP until last year. We applied for APB, but unfortunately, on getting to CBN, they told us the crop was not part of the programme in that year, and that we had to exercise patience. However, this year, in the speeches of the CBN Governor, Godwin Emefiele, in Kebbi, Katsina and Ekiti states, he said groundnut is part of this year’s programme. We were very ...

The astronomical rise of Paschal Mbawuike Mustapha Temidayo By Ndukaku Nwosu WASHINGTON -based Paschal Okechukwu Mbawuike, Vice President Emeritus of Cohen and Woods International, a Washington based, Africa focused consulting firm, is the man behind a peace initiative for his country Nigeria. Mbawuike says the Diaspora and Homeland gathering via zoom, holding mid-September, is another effort aimed at finding an answer to a more peaceful, secure environment for investment and jo...

Those who spoke to Daily Trust frowned at how agents of some international bodies, the Federal Ministry of Agriculture, as well as the Central Bank of Nigeria (CBN) are massively mopping up grains like maize, sorghum, millet and rice from the market. According to them, while buying grains by the government is good as it is part of national security, they said the timing is wrong because this is rainy season. Prices of food items have gone up, in most cases, beyond the reach of ordinary Nigeria...

The apex bank, had since 2015, through its Anchor Borrower Programme, disbursed several millions of naira to farmers’ groups to boost, among other crops, rice, cocoa and maize production. But critics of the initiative say in most cases, only political farmers benefitted from the interventions, which development, they opined, partly responsible for the current high prices of food items in the country. Now, watchers in the system are calling on the apex bank to rework its policy on the benefici...

CBN plans price crash, releases 50,000MT of maize to Crown-Olam, others The Punch Published 29 June 2021 The Central Bank of Nigeria has approved the release of 50,000 metric tonnes of maize to 12 major producers from strategic maize reserve under the Anchor Borrowers’ Programme. According to the CBN, the release of maize to the companies, which is the third of such releases, will reduce the price of grain in the market by checking the activities of middlemen who are hoarding ...

Daily Trust reports that the release of maize to the companies, which is the third of such releases, is also intended to check the activities of middlemen aimed at hoarding the product and causing artificial scarcity. The CBN listed recipients of the grains to include Premier Flour Mills, Crown-Olam, Grand Cereals, Animal Care, Amobyn and Hybrid Feeds. Others include Obasanjo Farms, Zartech, Wacot, Sayeed Farms, Pandagri Novum and Premium Farms. Confirming this, CBN spokesman, Osita Nwanisobi, ...

SPECIAL REPORT: Despite huge spending over decades, Nigeria unable to produce enough cassava Farmers, experts and data explain why cassava, one of Nigeria’s most iconic foods, perennially remains insufficient and expensive. Grace Ebit, a farmer in Ibogo, Biase Local Government Area of Cross River State, recalls her childhood with nostalgia. After her father lost his job in the mid-1960s, she dropped out of school and the family struggled to get food. Her distraught father began to grow cassa...

Taiwo Ojoye Published 23 June 2021The Central Bank of Nigeria and the Rice farmers Association of Nigeria have concluded plans to distribute 27,000 metric tonnes of rice paddies directly to millers nationwide on Thursday, to renew their move to address the rising cost of food prices in the Nigerian market.A statement from the CBN on Tuesday said the direct allocation from RIFAN warehouses across 16 states of the federation was sequel to the...

Despite the seeming lack of cohesion on the part of government policies and implementation, the hype ‘to return to agriculture’ is encouraging a lot of private effort and collaboration in the agricultural sector of the economy. It has also increased the level of farming activities at the grassroots and local communities thereby increasing the demand […]

The administration has done marginally better in terms of agriculture contribution to GDP.