PMB has planted the seed of change even in our agricultural sector and we can see it grow. Nigeria agricultural sector has grown on an average of 6.45% year on year sine 2015.
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About ABP and NFG
The Central Bank of Nigeria (CBN) in line with its developmental function established the Anchor Borrowers’ Program (ABP). The Program which was launched by President Muhammadu Buhari (GCFR) on November 17, 2015 is intended to create a linkage between anchor companies involved in the processing and small holder farmers (SHFs) of the required key agricultural commodities. The program thrust of the ABP is provision of farm inputs in kind and cash (for farm labor) to small holder farmers to boost production of these commodities, stabilize inputs supply to agro-processors and address the country’s negative balance of payments on food.
In 2017, CBN expanded the Anchor Borrowers’ Program (ABP) to include Agricultural Commodity Associations of the targeted Produce in an effort to expand the implementation of the ABP. This decision was taken to further ramp up domestic production of identified commodities by leveraging the existing organized structures of the agricultural associations nationwide, thereby providing huge economics of scale in the implementation of APB.
In simple terms, NFG-CS will be leveraging her size and existing structures to help enroll registered members for the ABP.