In order to boost rice production in the country, the Central Bank of Nigeria (CBN) has kicked off the registration of 10,000 rice farmers in 10 local government areas of Anambra State.
The exercise is being undertaken on behalf of the apex bank by the International Fund for Agricultural Development (IFAD)-assisted Value Chain Development Programme.
At a town hall meeting in Awka on Wednesday with stakeholders involved in the CBN’s Anchor Borrowers Programme for Rice Production in Anambra, the State Coordinator, IFAD-assisted Value Chain Development Programme, Mr. Emmanuel Agwuncha, disclosed that 10,000 rice farmers would be registered for the CBN initiative in 10 councils.
Agwuncha said that the farmers would be trained on good agronomic practices, business management, cooperative principles and dynamics in rice farming.
He said the town hall meeting was aimed at sensitising the stakeholders on the requirements for accessing funds from the CBN Anchor Borrowers’ Programme.
The Branch Controller of the CBN in Awka, Mr. Chuks Sokari, said that Nigeria was gradually becoming self-sufficient in rice production, going by its availability during the Yuletide.
He noted that the key role played by stakeholders in the country, especially in the state, contributed largely to the increase in rice yield in 2016.
His words: “I am confident that through this CBN programme, rice production will double in this country. By extension, this is sure to reduce poverty among small-holder farmers.”
The CBN chief said that Anambra had accessed N2 billion loan for rice production as at December 2016 from the programme’s funds.
He explained that the farmers could access the funds as a group of between five and 20; but they must open an account with any of the participating banks in the state.
“From what is in the programme, each state is expected to bring up a crop that has some production advantages. On the basis of that, they can approach the CBN through the participating institutions for funding.
“However, the loans must be repaid within five months through the produce,” he said.
Earlier, the state Commissioner for Agriculture, Mechanisation, Processing and Export, Mr. Afam Mbanefo, said that the CBN funds would scale up activities in the state’s agricultural sector.
Mbanefo, who was represented by Mr. Jude Nwankwo, said that the ministry had concluded plans to double yields this year for export which would also conserve foreign exchange.
The Branch Head, Nigerian Agricultural Insurance Corporative (NAIC), Mr. Andrew Oseloka, also urged farmers to insure their farms against damages like fire, flood, drought, pests and rice diseases for quick recovery.
– Authority
