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15000 Cashew Farmers to receive FG Loan

Fifteen thousand farmers under the National Cashew Association of Nigeria, NCAN are to benefit from the Federal Government Anchor Borrowers Scheme, to boost cashew production.

National President of the Association, Mr Ojo Ajanaku, made this known at a news briefing in Abuja.

Mr Ajanaku noted that the initiative was to empower cashew farmers to address the lingering challenges hindering bumper harvest in the country

According to him the major factors limiting cashew yield was the old age of most trees, deforestation, land acquisition problems, climatic condition, disease, and high post harvest loses among others.

“We are producing below capacity, this was why we decided to support our members with this Anchor Borrowers Loan to enable them increase production,  we have started registering them on our database to enable us have accurate information on the number of farmers in the remote areas and to be able to track them for easy loan repayment” he said

“The Anchor Borrowers Scheme, is a Federal Government Initiative through the Central Bank of Nigeria, under the leadership of  mr Godwin Emefiele, to empower farmers with loan to improve production and create job opportunity for Nigerians”

Mr Ajanaku who explained that the association is developing a database for accurate information on the population of cashew farmers in remote areas, added that sensitization of members on how to efficiently manage the loan to boost production was in progress.

The NCAN president affirmed that the industry was determined to achieve one million metric tons of cashew nut production in the next five years with improved value chain.

Julian Osamoto

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