The Central Bank of Nigeria (CBN) has approved N14.9 billion loan to the Northeast Commodity Association (NECAS) on the platform of its Anchor Borrowers’ Programme (ABP).
National President, NECAS, Alhaji Sadiq Deware, who spoke yesterday in Abuja, said the loan is for a period of one year at a single digit of nine per cent.
He said under the programme, 27,000 farmers would benefit while 75,000 hectares of land would be cultivated in the four participating states.
“The beneficiaries were farmers were mainly affected by the insurgency in Taraba, Bauchi, Gombe, Adamawa and Yobe states,” he said.
Deware explained that Borno State was not included as a result of the insecurity in the state, stressing that out of the 27,000 farmers, 10,000 were from Gombe State. He attributed the development to the farmers’ dedication and commitment in terms of farming activities.
“For example 11,525 farmers are cultivating 38,678 hectares of land for maize, sorghum, soya beans , rice and cotton, while the nearest to it Yobe state is cultivating 14,666 hectares of land by 5,676 farmers,” Deware told the News Agency of Nigeria (NAN).
He said the programme would cover all the commodities that the Northeast have comparative advantage of producing which include rice, maize, millet, sorghum and even small ruminants amongst others.
Deware said inputs would be given to farmers on loan basis and they were expected to pay back in three phases.
“Starting with first payment of 40 per cent after the first farming cycle, then they would pay the remaining two cycles of 30 per cent making a total of 100 per cent.
“Before now, the size of each farm had been captured and an identity card was issued to each of the beneficiaries of the project for easy identification and documentation to enable them to access the required support,” he said.
Daware said the project was a modified version of the ABP, which was aimed at strengthening efforts to attain bumper harvests and expressed the optimism that the new initiative would double the achievements of the ABP.
He said under the new initiative, the CBN had modified the programme to facilitate its direct relations with NECAS so as to ensure timely disbursement and full repayment of ABP loans, unlike what obtained in the past.
Deware said the group has re-absorbed some of the retired extension agents in the beneficiary states and re-trained them on modern technologies in enhancing their job performance.
“NECAS under the programme has commenced the recruitment of retired but willing to work extension workers in order to boost support for farmers and ensure proper sensitisation on new farming methods as well as advise on any problem faced by farmers,” Deware said.
He said more than 128 extension agents were recruited for the programme in Adamawa as it was in other states.
Dware said for the successful implementation of the exercise, the extension workers have been taught the working systems of modern technologies in service delivery and are optimistic that the training would be beneficial to the farmers.
According to him, the efforts are geared toward encouraging increased agricultural production in line with the drive to diversify the economy.