CBN Unveils First Maize Pyramids, Flags-Off 2021 Maize Wet Season Farming

cbn maize pyramid - anchor borrowers

The Central Bank of Nigeria has unveiled its first maize pyramids and flagged off the 2021 maize wet season farming under the Maize Association of Nigeria (MAAN)-CBN Anchor Borrowers’ Programme in Katsina State.

This is according to a verified Tweet by the apex bank, seen by NaijaBusiness.com.ng.

Commenting on the recent development, the Governor of the Central Bank of Nigeria, Godwin Emefiele noted that the feat was made possible through collaboration amongst stakeholders and the resilience of the farmers. He said:  ’’Maize pyramids are indeed rare, but we have been able to achieve this through synergy amongst stakeholders and the resilience of our farmers. Success is indeed infectious, and this will surely spur us to do more.

‘’Maize is one of the priority crops under the ABP. This is due to the crucial role maize plays, as a major staple food item, as well as its role as a significant feedstock for the poultry industry in Nigeria.

‘’ Impact of our monetary policy measures will be limited, if we do not address some of the structural constraints that limit productivity in key sectors of our economy such as agriculture.

Mr Emefiele concluded by reaffirming FG’s support for youth who want to go into agriculture, noting that there are several measures put in place to improve access to credit under the Anchor Borrowers Programme and the Agro Business Small and Medium Enterprises Investment Scheme (AGSMEIS).

The recent development is a big boost to FG’s drive of achieving self-sufficiency in food production and developing the agricultural sector. Recall that Naijabusiness.com.ng had earlier reported that CBN slashed farmers risk portfolio in Anchors Borrowers Programme from 75% to 50%