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Buhari okays CBN's Anchor Borrowers programme, enumerates achievems.

October 02
06:11:09 2017
President Muhammadu Buhari yesterday, in his Independence Day broadcast, commended the premium initiative of the Central Bank of Nigeria (CBN)- Anchor Borrowers programme (ABP).


President Muhammadu Buhari yesterday, in his Independence Day broadcast, commended the premium initiative of the Central Bank of Nigeria (CBN)- Anchor Borrowers programme (ABP).

He also took time to enumerate the programme’s successes, which he included in his administration’s achievement.

Furthermore, the President said a new presidential initiative would soon start with each state of the federation creating a minimum of 10,000 jobs for unemployed youths, riding on the back of CBN’s development finance initiatives.

According to him, his government has remained pro-active in its diversification policy, noting that the agricultural programme, which he launched in November 2015, has been an outstanding success.

He said: “N43.92 billion was released through the CBN and 13 participating institutions; 200,000 small holder farmers from 29 states of the federation benefitting; and 233,000 hectares of farmland cultivating eight commodities, namely rice, wheat, maize, cotton, soya-beans, Poultry, Cassava and Groundnuts, in addition to fish farming.

“These initiatives have been undertaken in close collaboration with the states. I wish to commend the efforts of the Governors of Kebbi, Lagos, Ebonyi and Jigawa States for their support to the rice and fertilizer revolutions.

“Equally commendable are contributions of the Governors of Ondo, Edo, Delta, Imo, Cross River, Benue, Ogun, Kaduna and Plateau States for their support for the Presidential initiative for palm oil, rubber, cashew, cassava, potatoes and other crops,” he said.

Recounting achievements of the programme, he noted that since December last year, this Administration has produced over 7 million 50Kg bags of fertilizer.

He also said 11 blending plants with a capacity of 2.1 million metric tonnes have been reactivated and has consequently saved $150 million in foreign exchange and N60 billion in subsidy, while fertilizer prices have dropped from N13,000 per 50Kg bag to N5,500.

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