In boosting Cocoa production in Nigeria, the Central Bank of Nigeria (CBN), has commenced the Anchor Borrowers Programme (ABP) for cocoa farmers. N770 million worth of inputs and cash were distributed to 221 farmers are spread across 10 cocoa producing states of the Federation.

Speaking at the ceremony to the flag of the distribution in Akure, the Ondo state capital and major hub for cocoa production, the National President of Cocoa Farmers Association of Nigeria (CFAN), Comrade Adeola Adegoke said, the sum of N197,444 was being given out as loan per hectare, and three hectares are calculated for each farmer, through the Anchor Borrowers scheme.

The breakdown of the distribution among the farmers were as follow; Ondo -365; Cross Rivers -74; Edo – 214; Ekiti – 38; Osun -193; Kwara – 43; Ogun – 118; Oyo – 156; Delta – 17; and Abia – 4. Each farmer would get 300 sachets of Ultima Plus, 12 litres of Clear weed herbicides, nine litres of Avesthrin insecticides six litres of Folar cocoa fertilizer and cash.

READ: Detailed Guide On Accessing CBN Anchor Borrowers Programme (ABP) Intervention For Agriculture

Speaking further, CFAN National President lamented that the major cash crop was dying gradually in Nigeria, which formerly occupied the second position in production but now in eight position, he emphasized on the need to embrace cocoa irrigation, stressing that each farm should have a borehole as agriculture generally would not thrive without water.

He thank both the Central Bank of Nigeria (CBN) and Wema Bank for their kind gesture in lifting cocoa higher, he promised to key into the system that would help his committee represent CFAN well.