By Gabriel Ewepu
ABUJA—AN international organisation, Actionaid, has expressed concern over continuity of Anchor Borrowers Scheme by the Central Bank of Nigeria, CBN, to boost farmers’ access to finance.
This was part of assessment report presented by Actionaid on government expenditure for the agricultural sector, held in Abuja.
The report also revealed that small holder farmers still lacked access to loan support.
Actionaid Nigeria Food and Agriculture, Programme Advisor, Azubike Nwokoye, acknowledged the key role the Federal Government played in funding the scheme, with meagre contribution from the banking sector.
Presenting the scorecard, Nwokoye said a cumulative of 270,545 farmers received loan support from the Agriculture Credit Guarantee Scheme Fund, ACGSF, between 2012 and 2016.
The Anchor Borrowers Scheme was initiated by the federal government through the CBN to provide credit facilities to smallholder farmers, including ready market or buyers, improved technologies as well as inputs such as extension services and technical supports, and to create 1 million jobs in five years.