Skip to main content

Anchor Borrowers Programme crashes price of local rice -CBN

CBN

CBN

The Central Bank of Nigeria (CBN), says the agricultural initiative, `Anchor Borrowers Programme’ launched by the Federal Government has led to significant reduction in the price of local rice.

Mrs Nkechi Osuji, the Head, Development Financing Department, CBN, Owerri Branch made the disclosure on Saturday in Owerri.

She spoke at a sensitisation workshop organised by the office of Executive Assistant to Gov. Rochas Okorocha on Human Capacity Development and Poverty Alleviation.

The one-day event was attended by local government representatives of small holder farmers, cooperative societies, youths and women groups drawn from the 27 local government areas of Imo.

Osuji said as a result of the new agricultural initiative, a 50kg bag of local rice now sells for N13,000 in some states that have embraced the Anchor Borrowers Programme.

She said that if more states join the programme, rice production would be greatly boosted.

Osuji told the participants that the CBN, Bank of Agriculture, Bank of Industry, commercial and micro-finance banks have provisions to finance agricultural activities.

She advised participants to embrace the programme as it was capable of creating thousands of jobs as well as boost the overall development of the nation.

Mrs Ngozi Iheancho, the Imo State Coordinator of National Directorate of Employment (NDE), who also spoke, commended the initiative and urged participants to embrace the programme.

She said that NDE in the state was ready to support the programme and advised against what she called involvement of `ghost farmers’ in the programme.

“Let there be no ghost farmers and unnecessary bureaucracy in the implementation of the programme in Imo.

“ If this programme is genuinely executed, a lot of jobs and wealth will be created in Imo,’’ she said.

Dr Edwin Uche, the Executive Assistant to Gov. Okorocha on Human Capacity Development and Poverty Alleviation, said the event was organised on order to expose farmers.

Uche said the state would expose farmers to grow rice, cassava, and maize, noting that the short and long term target of the programme is to create thousands of jobs in a year.

Participants who spoke, appealed to the organisers to step up action to ensure that Imo farmers key into the scheme like farmers in other states.

Labels:

Comments

Post a Comment

Popular posts from this blog

Court grants Fani-Kayode N50m bail

Fani-kayode sandwiched by EFCC officials Justice James Tsoho of the Federal High Court Abuja on Thursday granted a N50m bail to former spokesman of the Goodluck Jonathan Campaign Organisation, Chief Femi Fani-Kayode. Fani-Kayode was arraigned by the Economic and Financial Crimes Commission (EFCC) on a five-count charge of money laundering to the tune of N26m. Fani-Kayode is the sole defendant in the fresh charges numbered, FHC/ABJ/CR/140/2016. The EFCC accused the defendant of diverting 26 million Naira allegedly received from the ONSA while Sambo Dasuki was in office. The anti-graft agency also accused him of handling the said N26 million without going through financial institution as required under the Money Laundering Act. The embattled former minister is already facing 17-count charge of money laundering before the Lagos Division of the court, along with a former Finance Minister; Nenadi Usman, Danjuma Yusuf and a firm; Joint Trust Dimension Nigeria Limited. They were charg...
Post a Comment
Read more

Pope not involved in Colombian peace deal- Vatican

Pope Francis Pope Francis has turned down a request to play a role in the peace deal between the Colombian government and the Revolutionary Armed Forces of Colombia (FARC) rebel group. The Vatican in a statement issued on Wednesday in in Vatican City said that an invitation was sent to his Holiness in early August to appoint a representative to participate in the committee that selected the judges for the talks. The statement said that though Pope Francis supported the peace process, he, however, reiterated that he would not get involved in Colombian peace deal. It said that Pope was praying for the enlightenment of the hearts and minds of those who were called to promote the common good of the Colombian nation. A deal was announced last week, putting an end to five decades of internal conflict between government forces and the FARC rebels. The agreement, which needed to be ratified through a referendum in Oct. 2, would entail setting up a special court to grant amnesties or pu...
Post a Comment
Read more

Fall of Assad is a Blow to Russia's Prestige

The potential fall of Syrian President Bashar al-Assad, a long-standing ally of Russia, would mark a turning point in Moscow’s global influence, particularly in the Middle East. Steve Rosenberg’s analysis underscores the profound implications for Russia, which has invested heavily—both militarily and politically—in ensuring Assad’s survival over the past decade. This article delves into why Assad’s downfall would strike at the core of Russian prestige and what it could mean for the broader geopolitical landscape. Russia's Strategic Commitment to Syria Since the outbreak of the Syrian civil war in 2011, Russia has been a staunch supporter of Assad's regime. In 2015, Moscow launched a military intervention that proved decisive in stabilizing Assad’s hold on power. This intervention solidified Russia's role as a key power broker in the Middle East and demonstrated its willingness to project military power far beyond its borders. Syria is not just an ally for Russia; it is a...
Post a Comment
Read more