Farmers In North East To Remit N1.5 Billion Loan Repayment Today

Farmers In North East To Remit N1.5 Billion Loan Repayment Today

Gombe Commodity and Exchange Depot (GCED), will present a cheque of N1.5 billion today as part of the farmers’ repayment loan to the The Central Bank of Nigeria, CBN will today received a cheque of N1.5 billion from the Gombe Commodity and Exchange Depot (GCED) as part of the farmers’ repayment loan  of Anchor Borrowers’ Programme.

The National president, North East Commodity Association (NECAS), Alhaji Sadiq Deware who disclosed this in Abuja yesterday said that the N1.5 billion cheque repayment was part of the N8.9 billion loan granted to NECAS in 2018 on the platform of CBN Anchor Borrowers’ Programme (ABP) for one year at a single digit of nine per cent interest rate.

“The beneficiaries are 21,515 farmers mainly affected by the insurgency in Taraba, Bauchi, Gombe, Adamawa and Yobe states and cultivated 49,000 hectares of land. “The programme covers all the commodities that the North east states have comparative advantage in production, which include rice, maize, millet, sorghum and even small ruminants among others,’’ he said.

“Now that there is relative peace, the service providers are mapping the farm lands for the farmers to participate in the dry season farming.

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