Central Bank of Nigeria has released N16 billion for Anchor Borrowers Programme while receiving applause for its new foreign exchange policy restricting forex access for maize imports.
The Maize Association of Nigeria says the apex bank acted in the best interest of the economy, urging farmers to explore the opportunities presented by the restrictions to increase production capacity.
The President of the association, Abubakar Bello while speaking at a news conference in Abuja, listing the achievement of the last planting season.
According to Him though the association is targeting about 25 million metric tonnes of maize production in this year’s planting season, this might suffer about 25 per cent reduction due to COVID-19 pandemic.
He said maize farmers have cultivated about 250,000 hectares of maize in this year’s wet farming season.