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Published On: Thu, Jul 16th, 2020

CBN Anchor Borrowers: 4,000 Cotton Farmers benefit from Niger state

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From Yakubu Mustapha, Minna

No fewer than 4,000 cotton farmers in Niger State have benefitted from the distribution of farming inputs of Central Bank of Nigeria CBN Anchor Borrowers scheme for 2020 farming season.
The Secretary Niger State chapter of National Cotton Association of Nigeria (NACOTAN), Alhaji Nura Hashimu disclosed yesterday while speaking with our reporter during the distribution of the items in Minna.
He said that the materials distributed to include seeds, organic fertilizers, sprayers, chemicals and insecticides to the sum of N174,000 to each beneficiary.
Hashimu noted that the repayment of the loan is after harvest in which Niger state came 4th in times of repayment last year 2019 after Gombe, Katsina and Zamfara states.
He noted that CBN has assigned companies who are to purchase the produce directly from the farmers at reasonable price of about N185,000 per tone just as last year CBN bought it at the rate of N205,000 per tone.
The Secretary revealed that if the farmers acquired suitable lands, early planting and comply with the agronomist guidelines and policy, a hectare of land will be able to produce between 2 – 3 tones of cotton.

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