economy

CBN Donates N13bn to Maize Growers for the 2020 Wet Season

Dr. Edwin Uche, who is the National President of the Maize Growers Processors and Marketers Association of Nigeria (MAGPAMAN), has confirmed the association’s receipt of N13 billion worth of support from the Central Bank of Nigeria (CBN) for the 2020 wet season maize production.

Another N16 billion has already been given to other farmers under the aegis of Maize Association of Nigeria (MAAN) for maize production this year through the CBN Anchor Borrowers Programme.

Dr. Edwin Uche, the Chairman.

Dr. Uche who spoke at the stakeholders’ meeting of the association on Friday in Abuja called on the maize farmers to take advantage of the programme to increase maize yield to be able to pay back the loan.

“MAGPAMAN has received N13 billion for the wet season maize anchor borrower programme for 70, 000 farmers.”

“Our farmers have gotten their inputs and they have also received their cash components. They are farming and activities are going on and we are working to address gaps where necessary,” he said.

CBN Governor, Godwin Emefiele.

The Central Bank of Nigeria (CBN) Head of Development Finance Department, Mr. Yusuf Yila said that the apex bank would intensify its support to the farmers to meet the production of the targeted 12.5 million metric tons of maize in the next 18 months.

Represented by Mr Elennor Ihua, Yila said that increased support was critical to the development of maize value chain in the country.

The meeting focused on strategies for effective implementation of 2020 wet season for the CBN-MAIZE Anchor Borrowers Programme (ABP).

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