The Central Bank of Nigeria (CBN) has said that Anchor Borrowers Program beneficiaries have recorded profit close to about N15 to N20 billion, as disclosed in their balance sheet.
The Governor, CBN, Mr Godwin Emefiele who disclosed this while leading other bank Chief Executive Officers on final inspection of the Dangote fertilizer plant at Lekki Free Trade Zone Lagos, said Prime Anchor was funded to the tune of N10 billion in the last planting season.
“I don’t know which business you will go into that you will make 100 percent in profit. It is only in Agriculture that we can find it. It is only in Nigeria that you can see this kind of yields. We. Will only continue to tell everybody to join us,” he added
He said that Fertilizer is one constant thing that farmers need in the input chain to help boost output from the farming activities and other related smaller inputs.
He stated that the Central Bank is involved in funding even sourcing of high yield seeds and now working on Lake Chad basin authority and other research institute in Nigeria involved in conducting research that will improve the kind of seeds “we use and that is the reason today we can beat our chest and say, for instance the yields from rice paddy has risen to about 8 to 10 metric tons per hectares.”
Speaking on Dangote Fertilizer, Emefiele noted that the fertilizer plant has now started production and Dangote is ready to now flood the Nigerian market with fertilizer, and the excess would go for export.
“When we started this journey about four to five years ago, yields per hectares was just about 1-1.5 metric tons per hectare. So we are making progress.
“In the area of cassava, yields were as low as about just 10 tons per hectare but today with the kind of cassava stems that we get from IITA in Ibadan yields have increased to from 35 to 38 tons per hectare
“I will continue to encourage our youths that agriculture today is a business where you make money,” he said.
In his response, Dangote thanked the Governor of the CBN, and all chief executives officers of banks for their support.
He said “But I must first thank Mr. President for giving us all the support which made this project possible.
