Maize association to strategise on CBN’s loan recovery

News Agency Of Nigeria

September 22, 2022 6:11 PM

The Maize Association of Nigeria (MAN) has commenced nationwide strategic meeting with maize farmers and stakeholders on the Central Bank of Nigeria’s (CBN) Anchor Borrowers’ loan recovery.

Maize association to strategise on CBN’s loan recovery.

This is contained in a statement by Mr Bello Abubakar, the National President, MAN on Thursday in Abuja.

Abubakar said that the meeting would include those from South-South and South-East geo-political zones of the country.

According to him, the meeting will hold in Port Harcourt, with the objective of reviewing the impact of the loan on food security.

“We will also deliberate on loan repayment strategies and the way forward for maize farmers,” Abubakar said.

He said that the association would ensure that all necessary actions and measures would be taken to compel the farmers who took the loans to pay back.

Abubakar said that to this effect, the association decided to go round the 36 states of the federation starting with the South-South and South-East to come together and meet with stakeholders.

“The meeting will discuss, deliberate and come up with concrete solution to the problem and ensure that farmers pay up their loans.

“We know there are some challenges but loan is a loan, loan is not a grant, loan is not subsidy, therefore we must follow these farmers to make sure they pay back the loan,” he said.

Abubakar said that the loan had encouraged farmers to produce more and encouraged more people to go into farming thereby enhancing food production.

He said that the purchase and disbursement of hybrid seeds and other inputs and extension services made available to maize farmers through the loan had boosted yields per hectare to five metric tons.

Abubakar said that the programme had helped farmers to get quality inputs; right from seed, fertilizer, herbicides and other needed services which made the farmers increase their production.

News Agency Of Nigeria