CBN Disburses N12.65bn on Anchor Borrowers Programme Since January 2023

In recent news, Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has revealed that the apex bank has disbursed a sum of N12.65 billion on the Anchor Borrowers Programme (ABP) since the beginning of January 2023. The ABP is an agricultural intervention programme by the Federal Government aimed at increasing agricultural productivity and creating jobs for Nigerians.

Emefiele stated that the total amount spent on the ABP since its inception in 2015 is N1.09 trillion. In the first two months of 2023, the CBN disbursed N12.65 billion to three agricultural projects under the ABP. The cumulative disbursement under the programme has benefitted more than 4.6 million smallholder farmers cultivating or rearing 21 agricultural commodities on an approved 6.02 million hectares of farmland.

Additionally, Emefiele mentioned that the CBN has provided substantial financial interventions in various other sectors of the economy. The bank has released a sum of N23.70 billion under the N1.0 trillion Real Sector Facility to eight new real sector projects in agriculture, manufacturing, and services.

The CBN's commitment to these financial interventions is a significant boost to the growth of the agricultural sector and the economy at large. The bank remains steadfast in its efforts to support Nigeria's economic growth through various programmes and initiatives.