Nigerian farmers ask FG to extend repayment of CBN loan due to insecurity

Farmers are currently putting pressure on the Federal Government to ask the Central Bank of Nigeria (CBN) to extend the loan repayment for the Anchor Borrowers’ Programme (ABP) due to disruption of crop production caused by worsening insecurity across the country.

This follows the call by the CBN that the beneficiaries of the ABP, its flagship agricultural intervention scheme should repay their loans so that other farmers can benefit from the scheme.

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However, according to a report from the Punch, the farmers have said that repaying the loans now would be difficult due to a drop in revenue caused by the security challenges. They said that farmers were finding it difficult to access their farmlands and as such, had very limited products to market.