(AGENDAWATCHDOG) – 221 farmers in 10 Cocoa producing states of Nigeria are set to receive inputs and cash incentives worth N770 million from the Central Bank of Nigeria (CBN).
The distribution of the items was flagged off in Akure, Ondo State capital, under the CBN Anchor Borrowers’ Scheme to members of the Cocoa Farmers Association of Nigerian (CFAN).
Beneficiary farmers from each of the 10 cocoa producing states were Ondo -365; Cross Rivers -74; Edo – 214; Ekiti – 38, Osun -193, Kwara -43; Ogun – 118; Oyo – 156; Delta – 17; and Abia – 4.
The distribution statistics, also indicated that each farmer would get 300 sachets of Ultima Plus, 12 litres of Clear weed herbicides, nine litres of Avesthrin insecticides six litres of Folar cocoa fertilizer and cash.
The Anchor Borrowers Scheme for Cocoa farmers is being managed by Wema Bank Plc, in which all beneficiaries, have opened account for the purpose of the loan scheme.
POTENTIAL IMPACT: The CBN’s stimulus package is timely and strategic as it will lead to a quantum increase in Cocoa yield per hectare, safeguard the future of Cocoa and help cocoa farmers obtain better income from cocoa farming.