The Central Bank of Nigeria (CBN) has
voted the sum of N151.015 billion to 170 beneficiaries under the auspices of
the Commercial Agricultural Credit Scheme, reports ThisDay.
According to the apex bank, the
beneficiaries of the funds include 163 private promoters and 27 state
governments with each states accessing N1 billion each while the Federal
Capital Territory gets only N16 million.
NaijaAgroNet gathered that 16 banks participated in the
project and the analysis of the number of project financed under CACS by value
chain revealed that production accounted for 44 per cent of the 163 CACS
private sector sponsored projects.
The bankers’ committee revealed recently that
agriculture lending increased by N212.64 billion as at October last year,
representing a 37.6 percent increase over the 2010 figure. Read more
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