{"id":20307,"date":"2020-06-10T13:46:02","date_gmt":"2020-06-10T13:46:02","guid":{"rendered":"http:\/\/watchdogplusmedia.com\/?p=20307"},"modified":"2020-06-10T13:46:09","modified_gmt":"2020-06-10T13:46:09","slug":"cbn-to-finance-1-6m-farmers-in-2020","status":"publish","type":"post","link":"https:\/\/watchdogplusmedia.com\/?p=20307","title":{"rendered":"CBN to finance 1.6m farmers in 2020"},"content":{"rendered":"\n
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\u00a0A total of 1.6 million farmers will receive the financial support of the\u00a0Central Bank of Nigeria (CBN)<\/a>\u00a0in the wet planting season this year.<\/p>\n\n\n\n

The farmers will enjoy funding from the apex bank in the production of ten key commodities currently being promoted by the bank including oil palm, cotton, rice, cocoa, maize, cassava, tomato, fish, poultry and livestock\/dairy.<\/p>\n\n\n\n

Yila Yusuf, CBN\u2019s Director of Development Finance, made the revelation in Abuja on Tuesday during the inauguration of farm inputs distribution for cotton farmers for the 2020 planting season, adding that the bank was passionate about developing the commodities across their value chain.<\/p>\n\n\n\n

He noted that the funding would enhance Nigeria\u2019s food security by helping to mitigate the severe impact of the coronavirus crisis<\/a> on the agriculture sector.<\/p>\n\n\n\n

Read also: NASS North East caucus protest exclusion of zone in planned reopening of airports<\/a><\/strong><\/p>\n\n\n\n

Mr Yusuf confirmed that the CBN had engaged 256,000 farmers in cotton production for this year\u2019s planting season via its Anchor Borrowers scheme, further stating that farmers were required to pay back the credit taken through the programme.<\/p>\n\n\n\n

He observed that the bank was striving to revitalise the cotton, textile and garments industry towards employment generation and boosting the nation\u2019s economy.<\/p>\n\n\n\n

The textile industry became self-reliant last year with the cotton used during the period sourced within the country as a result of the CBN\u2019s commitment to cotton production, Yusuf said.<\/p>\n\n\n\n

\u201cCBN is trying to bring back the glory of textiles of those days where the industry used to employ 10 million people across the country.<\/p>\n\n\n\n

\u201cIn (the) 80s, we lost that glory because of smuggling where our country was turned into a dumping ground of textile materials.<\/p>\n\n\n\n

\u201d It is an unfortunate situation, about $5bn was spent annually on the importation of textiles.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a0A total of 1.6 million farmers will receive the financial support of the\u00a0Central Bank of Nigeria (CBN)\u00a0in the wet planting season this year. The farmers will enjoy funding from the apex bank in the production of ten key commodities currently being promoted by the bank including oil palm, cotton, rice, cocoa, maize, cassava, tomato, fish, […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_seopress_robots_primary_cat":"none","_mi_skip_tracking":false},"categories":[19,21],"tags":[],"yoast_head":"\nCBN to finance 1.6m farmers in 2020 » WatchDog Plus Media<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/watchdogplusmedia.com\/?p=20307\" \/>\n<meta name=\"author\" content=\"Odofin\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/watchdogplusmedia.com\/?p=20307#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/watchdogplusmedia.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Agriculture\",\"item\":\"https:\/\/watchdogplusmedia.com\/?cat=19\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"CBN to finance 1.6m farmers in 2020\"}]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"CBN to finance 1.6m farmers in 2020 » WatchDog Plus Media","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/watchdogplusmedia.com\/?p=20307","author":"Odofin","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"BreadcrumbList","@id":"https:\/\/watchdogplusmedia.com\/?p=20307#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/watchdogplusmedia.com\/"},{"@type":"ListItem","position":2,"name":"Agriculture","item":"https:\/\/watchdogplusmedia.com\/?cat=19"},{"@type":"ListItem","position":3,"name":"CBN to finance 1.6m farmers in 2020"}]}]}},"rttpg_featured_image_url":null,"rttpg_author":{"display_name":"Odofin","author_link":"https:\/\/watchdogplusmedia.com\/?author=2"},"rttpg_comment":0,"rttpg_category":"<a href=\"https:\/\/watchdogplusmedia.com\/?cat=19\" rel=\"category\">Agriculture<\/a> <a href=\"https:\/\/watchdogplusmedia.com\/?cat=21\" rel=\"category\">Economy<\/a>","rttpg_excerpt":"\u00a0A total of 1.6 million farmers will receive the financial support of the\u00a0Central Bank of Nigeria (CBN)\u00a0in the wet planting season this year. The farmers will enjoy funding from the apex bank in the production of ten key commodities currently being promoted by the bank including oil palm, cotton, rice, cocoa, maize, cassava, tomato, fish,…","_links":{"self":[{"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=\/wp\/v2\/posts\/20307"}],"collection":[{"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=20307"}],"version-history":[{"count":-4,"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=\/wp\/v2\/posts\/20307\/revisions"}],"wp:attachment":[{"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=20307"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=20307"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=20307"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}