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    Categories: BusinessOn the Go

Daura farmers ‘get N412m worth of assistance’ from CBN

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About 1,500 rice farmers in Daura, Katsina state, have received various farming implements under the phase 11 of the Central Bank of Nigeria (CBN) anchor borrowers scheme.

Nura Baure, chairman, Daura chapter of the Rice Farmers Association of Nigeria (RIFAN),  disclosed this during the distribution of farming implements to registered farmers on Thursday.

Daura is the hometown of President Muhammadu Buhari.

According to Baure, each farmer received two bags of fertilizers, two bottles of herbicides and a water pumping machine.

He said the farmers were also given a bag of improved seedlings, two litres of liquid fertilizer and a bag of organic fertilizer each.

He put the monetary value of the implements at N275,000 per beneficiary which he said would be repaid within a year.

Baure explained that the scheme was aimed at promoting mass production of rice, through a revolving loan procedure, so as to empower millions of farmers in line with the objectives of the anchor borrowers programme.

He cautioned the farmers against diverting the implements or defaulting in repayment, adding that a mobile court had been established to try defaulters.

“The loan repayment must be in bags of paddy rice, not cash,” Baure said.