CBN to Sign MoU with Governors on Anchor Borrowers Program

0
232
Kayode Fayemi, Chairman Nigeria Governors' Forum

The Governors of the thirty six states in Nigeria, under the aegis of the Nigeria Governors’ Forum (NGF), rising from their 13th Teleconference meeting of the forum, will, on July 28, sign a Memorandum of Understanding with the Central Bank of Nigeria, CBN on the Anchor Borrowers’ Programme (ABP).

This is a  new partnership with the Apex bank aimed at strengthening the implementation of the programme and economic opportunities for smallholder farmers in all States.

According to the Governors, after the signing of the MoU on July 28th, 2020, the initiative would be followed by the establishment of a joint project team, engagement with stakeholders and launch during the 2020 dry season farming.

The governors said that arrangements were being put in place for the disbursement of other available funds that will help close the financing gap created by the pandemic, including the US$100 million COVID-19 Support from the World Bank and the 1 Billion Naira to each State from the federal government to fund health mitigation measures and infrastructure refunds for federal government roads constructed or rehabilitated by State governments.

In a communique signed by the NGF Chairman and Ekiti State governor, Dr. Kayode Fayemi, the governors have resolved to strengthen the risk communication pillar of the State COVID-19 Task Teams as proposed by the PTF National Coordinator, and foster stronger collaboration with the National Orientation Agency, State Orientation Agencies, religious and traditional institutions, as well as civil societies.

He said that they will also step-up the current efforts by taking key health and safety measures to the doorsteps of Nigerians in all 774 local governments areas in the country.

Parts of the Communique read, ” We, members of the Nigeria Governors’ Forum (NGF), at our meeting held today, deliberated on issues affecting the country especially the impact of the COVID-19 pandemic.

” A new partnership with the Central Bank of Nigeria (CBN) on the Anchor Borrowers’ Programme (ABP) aimed at strengthening the implementation of the programme and economic opportunities for smallholder farmers in all States.

” Arrangements for the disbursement of other available funds that will help close the financing gap created by the pandemic, including the US$100 million COVID-19 Support from the World Bank and the 1 Billion Naira to each State from the federal government to fund health mitigation measures and infrastructure refunds for federal government roads constructed or rehabilitated by State governments

“The NGF Secretariat’s Agric Advisor, Olatunde Akande also made a presentation on the NGF/CBN partnership on the Anchor Borrowers’ Programme (ABP). The new partnership is in line with the Federal Government’s Economic Sustainability Plan and will leverage on the ABP to expand economic opportunities for smallholder farmers across the country by increasing their capacity to access land, low interest financing, extension services, Good Agricultural Practices and guaranteed markets for their produce. It will cover all CBN-focused crops, including rice, maize, cotton, cassava, oil palm, fish, cowpea, poultry and livestock among others.

“State government, through their Ministries of Finance will utilize technical assistance available within the NGF Secretariat to publish their approved amended 2020 COVID-19-responsive budgets by 31st July 2020; maintain the implementation of a tax compliance relief programme for individual taxpayers and business to mitigate the impact of the COVID-19 crisis; issue emergency procurement guidelines; and adopt procedures to facilitate the participation of small and medium scale enterprises in State procurement by 30th September 2020.

” In the light of the proposed partnership with the CBN on the ABP, an official MoU signing will be held on Tuesday, 28th June 2020. The initiative will be followed by the establishment of a joint project team, engagement with stakeholders and launch during the 2020 dry season farming.”

 

 

 

 

 

 

LEAVE A REPLY

Please enter your comment!
Please enter your name here