Central Bank of Nigeria Targets 10% Increase in Agriculture Funding by 2024

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Godwin Emefiele - Agriculture Funding

Godwin Emefiele, Governor of the Central Bank of Nigeria (CBN), predicted a 10 percent increase in credit to the Nigerian agricultural sector over the next couple of years. Emefiele also said that about $2 billion out of about $2.5 billion, earmarked for key initiatives in the manufacturing, mining and agriculture, services sectors had been disbursed to over three million farmers, cultivating over 4.7 million hectares of arable land in the 36 States and the Federal Capital Territory (FCT) under the Anchors Borrowers’ Programme (ABP).

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