The Central Bank of Nigeria has disbursed a sum of N41.2bn under its intervention schemes to cut wheat importation.
The Governor of the Central Bank of Nigeria, Godwin Emefiele disclosed this at the Monetary Policy Committee meeting in Abuja on Tuesday.
He said, “The bank also disbursed the sum of N41.2bn for the commencement of the brown revolution, a large-scale wheat program to wean us off imports by 35 percent in the first year.”
He said between September and October 2021, the bank, under the Anchor Borrowers’ Programme, disbursed N43.19bn to support the cultivation of over 250,000 hectares of maize, sorghum, soya beans, and rice during the 2021 dry season.
He said N5.88bn was disbursed to finance six large-scale agricultural projects under the Commercial Agriculture Credit Scheme.
Emefiele added that the bank had disbursed the total sum of N864bn to 4.1 million farmers, cultivating 5.02 million hectares.
He said the bank disbursed the N261.92bn for 42 additional projects under the N1tn manufacturing intervention.
