The North East Commodity Association in partnership with the Central Bank Of Nigeria (CBN) and strategic partners, has inaugurated committee for the recovery of N36 billion loans advanced to farmers in Borno and northeast through the Anchor Borrowers programme of the federal government.
Inaugurating the committee yesterday in Maiduguri, the national chairman of NECA , Alhaji Sadiq Umar Daware , recalled that NECA had advanced loans to benefiting farmers in Borno State, and during the distribution of the input , it was made clear to the farmers that the distribution was a loan.
He said NECA have been able to secure N36 billion loan from CBN on six different commodities comprising rice, maize , sorghum, soya beans, sesame and cotton for farmers in the northeast.
Alhaji Daware noted that Gombe farmers got highest portion of the loan because they farm the six commodities, while 3,722 farmers in Borno got less of the loan because they only participated in one commodity which is rice farming.
He said NECA is hoping that in the next farming season, farmers in Borno who have advantage of cultivating variety of crops can key into the programme comfortably.
” With relative peace in Borno, we are optimistic that at the end of the programme, we will be able to make substantive recovery. We expect to recover atleast 80 percent of the loan to the farmers,” Daware said .
He noted that the programme is well structured that even in the event of natural disaster, the farmer will not incure loss.
Continuing, he said:” They are about starting harvesting now and that is why we have invited all stakeholders , including the extension agents with a view to inaugurate committee that can go and follow these farmers so that they can pay the loans.