The Central Bank of Nigeria, CBN and the Federal Government have flagged off the Rice Anchor Borrowers’ Programme in Imo State.
The programme was launched on Sunday at the Imo State International Conference Centre in Owerri, the state’s capital.
Governor Rochas Okorocha explained that the aim was to provide food and guarantee food security in the country. He stressed the need for Nigerians to embrace agriculture as Nigeria battles with recession, disclosing that the sum of nine billion Naira has been earmarked to support farmers in the state for the programme.
The Commissioner for Agriculture and Water Resources in the state, Udo Aguoha, also highlighted the benefits of the programme.
The event was witnessed by the Kebbi State Governor, Sen. Abubakar Bagudu and representatives from the CBN led by the Head of Development Finance, Mrs Nkechi Osuji.
The Rice Anchor Borrowers’ programme is an initiative of the Federal Government through the CBN and its primary aim is to provide credit facilities to rice farmers.
It is targeted at encouraging local production, reduce rice importation as well as providing food and job security for the citizenry.