Page 31 - Borrowers Programme News Today

Vanguard News CBN disburses N1.8trn for developmentt financing On By Elizabeth Adegbesan The Central Bank of Nigeria, CBN, said it disbursed N1.79 trillion for financing development in nine schemes from January to September 2020. This is contained in the apex bank’s October 2020 Economic Report released last weekend. Analysis of the report shows that out of the amount disbursed, N1.19 billion was deployed to 767 projects, N491.2 billion was guaranteed to 2.6 million farmers and N113.3 billio...

Foreign reserves adequate for seven months imports — CBN On By Emeka Anaeto, Business Editor THE Central Bank of Nigeria, CBN, has indicated that the country’s foreign exchange reserves at current level of about USD35 billion would cover seven months import needs of the economy. This is contained in the apex bank’s 2020 economy review and 2021 outlook it has just released. In the review and outlook the Bank explained that with the decline in the nation’s foreign exchange earnings and ...

The Ogun State Ministry of Agriculture has alerted the general public to be wary of an online portal calling for application for the Ogun State/Central Bank of Nigeria (CBN) 2021/2022 Anchor Borrowers Programme.

By Ummi Kabir Maize is one of the most important staple foods in Nigeria and consumed by all in diverse ways. As a crop it can, according to the Governor of the Central Bank of Nigeria (CBN) Godwin Emefiele, grow almost everywhere irrespective of the season in Nigeria. The crop is not only being consumed as food in all regions of the country but has also become a raw material in manufacturing and agriculture- related businesses within and beyond the borders of Nigeria. It has grown to become a ...

6 min read Nigeria is producing 10 times more maize yearly now than it did at independence in 1960, data from the United States Department of Agriculture (USDA) shows. But despite now being the second largest producer of the commodity in Africa, farmers are worried that cheaper maize imported from other African countries will crash the price in the country’s market and also limit their share of the larger African market. The USDA data also shows that Nigeria’s yearly nationa...

Punch Newspapers Sections Nike Popoola Banks credits to the productive sectors rose by N3.97tn in 18 months after the commencement of the Loan to Deposit Ratio initiative of the Central Bank of Nigeria. This was disclosed in the personal statements of some of the members of the Monetary Policy Committee which was released by the CBN on Thursday. The CBN disclosed that the total gross credit by the banking industry which stood at N19.54tn as of 13th November 2020, rose from N15.56tn at the comme...

By Mercy Obojeghren Asaba, Jan. 5, 2021 A notable farmer in Delta and former state Commissioner for Lands and Survey, Mr Raymos Guana has called for value addition to agricultural products in the country. Guana told newsmen on Tuesday, in Asaba, that “value addition is the only way to go in deriving maximum benefits from the agricultural sector. “We sell too many of our agricultural products without adding value and these come back as processed goods like cocoa,” he said. According to hi...

Business/MONEY Kunle Aderinokun and James Emejo aggregate analysts perspectives on the performance of the Central Bank of Nigeria in its regulatory and developmental functions – and conclude that though the apex bank had exceeded expectations particular in the role it played to sustain the economy amidst the impact of the COVID-19 pandemic last year, more strategic interventions are still required to boost the real sector and set the economy on the path of recovery and growth amidst the curre...

By Kadiri Abdulrahman At the inception of the present regime on May 29, 2015, President Muhammadu Buhari expressed his intention to diversify the Nation’s economy and move it away from sole dependence on crude oil. Top on the government’s list of diversifiable alternatives was agriculture. Government’s intention was to ensure that the country developed the agriculture sector to a point where it will complement crude oil receipts with huge exportation of agricultural products. The idea was...

Top on the government’s list of diversifiable alternatives was agriculture. Government’s intention was to ensure that the country developed the agriculture sector to a point where it will complement crude oil receipts with huge exportation of agricultural products. The idea was for the country to boost agricultural production and for Nigeria to reverse its negative balance of payment on food. The first step, however, will be for the nation to achieve self sufficiency in food by, at least, ...