As part of its economic empowerment agenda, the Central Bank of Nigeria, CBN, said it has disbursed a total of N366.39 billion for the execution of 465 projects under the Commercial Agriculture Credit Scheme, CACS, from 2009 to date.
This shows that funding in agriculture is moving up in Nigeria.
The Scheme, established to address the financing challenges of the entire value chain, such as production, processing, storage and marketing/distribution of agricultural produce in the country.
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The Governor of CBN, Mr. Godwin Emefiele who disclosed this at the International Conference on Environment Dialogue on: “Diversification of Economy: The Role of Jatropha,” said the apex bank provided finance to commercial farmers at single digit interest rate.