CBN to finance 1.6 million farmers this year

Okechukwu Nnodim, Abuja

The Central Bank of Nigeria is to provide agricultural funding for about 1.6 million farmers during the 2020 wet planting season.

It was learnt that the bank would support the farmers in the cultivation and production of 10 key agro-commodities.

The CBN outlined the commodities to include cotton, rice, oil palm, tomato, cassava, poultry, fish, maize, cocoa and livestock/dairy.

The bank’s Director, Development Finance Department, Yila Yusuf, disclosed this on Tuesday in Abuja at the the  inauguration of farm inputs distribution for cotton farmers for the 2020 planting season.

Yusuf said the financial support to the 1.6 million farmers would ensure food security for the country, particularly after the devastating effects of COVID-19 on the agricultural sector.

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