Cbn to give more support to ogun commodity farmers the eagle online

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CBN to Give More Support to Ogun Commodity Farmers

The Central Bank of Nigeria (CBN) has announced plans to provide more support to commodity farmers in Ogun State. This move is aimed at boosting agricultural production and economic growth in the state.

According to a report by The Eagle Online, the CBN Governor, Godwin Emefiele, made this announcement during a visit to the state. Emefiele stated that the bank is committed to supporting farmers in the state, particularly in the production of commodities such as cocoa, cashew, and rice.

The CBN Governor also revealed that the bank has already disbursed N10 billion to farmers in the state through its Anchor Borrowers' Programme (ABP). He added that the bank is willing to provide more support to farmers in the state, including access to credit facilities and other forms of assistance.

Emefiele also commended the Ogun State Government for its efforts in promoting agriculture in the state, saying that the state has made significant progress in the sector. He urged the state government to continue to support farmers and provide a conducive environment for agricultural production.

The visit by the CBN Governor to Ogun State is seen as a major boost to the state's agricultural sector, which has been identified as a key driver of economic growth in the state. The state government has been working to promote agriculture in the state, and the support from the CBN is expected to further boost production and economic growth.

It is worth noting that the CBN's ABP is a flagship programme aimed at promoting agricultural production and economic growth in the country. The programme provides credit facilities to farmers at a single-digit interest rate, as well as other forms of support, such as training and capacity building.

Overall, the CBN's decision to provide more support to commodity farmers in Ogun State is a welcome development that is expected to have a positive impact on the state's agricultural sector and economy.