The Central Bank of Nigeria will disburse N41bn through Heritage Bank Plc to farmers across different states for the expansion of wheat production to meet high demand amid poor production capacity.
Speaking on the initiative, the CBN Governor, Godwin Emefiele, said the move was part of the apex bank’s intervention to address the challenges in wheat value chain, thereby increasing the domestic production of wheat and closing the wide supply gap inherited in Nigeria agricultural space. He said the programme would benefit over 150,000 farmers, and would be implemented in 15 states on about 180,000 hectares of land.
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