THE Central Bank of Nigeria (CBN) has disbursed N41.2b under its intervention schemes to cut wheat production.
CBN Governor, Godwin Emefiele, made this disclosure after the Monetary Policy Committee meeting in Abuja on Tuesday.
He said, “The bank also disbursed the sum of N41.2bnfor the commencement of the brown revolution, a large-scale wheat programme to wean us off imports by 35 per cent in the first year.”
He said between September and October 2021, the bank, under the Anchor Borrowers’ Programme, disbursed N43.19b 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 N864b to 4.1 million farmers, cultivating 5.02 million hectares.
He said the bank disbursed the N261.92b for 42 additional projects under the N1tn manufacturing intervention.
He said, “Cumulatively, the bank has disbursed the sum of N1.08tn under this scheme. As part of its effort to support the resilience of the healthcare sector, the bank disbursed N5.39bn to nine healthcare projects under the Healthcare Sector Intervention Facility.
“The bank has also cumulatively disbursed the sum of N108.65bn to hospitals and pharmaceutical industry; 54 of the 117 projects funded are for hospital services.”
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