CBN’s Anchor Borrowers Programme targets 100,000 local cotton farmers in 2019

Fairtrade farmer Mamouna Keita, in Batimaka village, in cotton growing region of Kita, Mali.

The Federal Government has said that the Central Bank of Nigeria’s (CBN)’s Anchor Borrowers Programme (ABP) for 2019 is targeting 100,000 cotton farmers across the country.

The Minister of State for Industry, Trade and Investment, Hajiya A’isha Abubakar, disclosed this on Wednesday in Zaria, Kaduna State, at a one-day stakeholders forum on good cotton seed production to enhance the cotton value chain in Niger.

The theme of the forum was, “Increasing the Production of Good Quality Cotton Seed for Sustainable Growth of Nigeria’s Cotton, Textile and Garment Sector”.

The minister, who was represented by Mrs. Omololu Opeewe, the Director, Commodities and Products Inspectorate Department (CPID), said the Federal Government placed much emphasis on how to improve cotton production in Nigeria.

She said it was in furtherance of its economic diversification agenda that the Federal Government developed the Cotton Textile and Garment (CTG) policy, adding that the primary aim of the policy was to boost local production and the processing of cotton.

Abubakar explained that in implementing the policy, the ministry had over time engaged relevant Ministries, Departments and Agencies (MDAs) and other stakeholders to design and develop specific programmes and projects for the CTG sub-sector.

“Presently, the ministry is working with NACOTAN to facilitate access to the ABP of CBN. The strategy is to increase cotton production and link it to a ready market to achieve self-sufficiency and create jobs.

“In this respect, it is proposed that a minimum of 100,000 farmers with two hectares each are expected to participate in the 2019 wet season of ABP.

On this note, a target yield of 1.5 metric tonnes per hectare, 300,000 metric tonnes of seed cotton will be processed by the ginning companies, while 114,000 metric tonnes of cotton lint will be available to the textile mills,” the minister stated.

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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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