The Central Bank of Nigeria is to provide rainy season intervention for 250,000 farmers in Borno State.
Head, Development Finance CBN, Maiduguri office, Mahmood Nyako stated this while launching farm inputs distribution for cotton farmers in northern Borno, in Maiduguri.
Mr Nyako said the Anchor Borrowers programme of the Bank would support farmers under the ten commodities to ensure food sufficiency post COVID-19.
He said with the relative peace in the state, more intervention would be provided for farmers.
“We expect our teeming unemployed youths to embrace this programme and get at least one hectare, we give from one to five hectares under the Anchor Borrowers. If they embrace farming, unemployment will dramatically reduce. “
Mr Nyako expressed confidence that farmers will get bumper harvest and pay back the loan given to them so as more farmers will benefit.
State Chairman Cotton Producers and Marketers Association of Nigeria COPMAN Alhaji Isa Abubakar commended CBN for coming to their aid as many farmers have lost their means of livelihood due to insurgency.
Items presented include improved seedlings, fertiliser, and pesticides.