CBN shares N5.7 billion to 10,000 farmers in Bauchi to boost wheat farming

The Central Bank of Nigeria has decided to give over N5 billion to aid farmers during the dry season in Bauchi State in the cultivation of wheat.

This was established by the CBN Comptroller, Bauchi branch, Saladu Idris, at the Secretariat of the Nigerian Union of Journalists (NUJ)

According to the apex bank, dry season farming is a rather simple process. However, the CBN has noticed that many of Nigeria’s flour mills have gone out of business and that overall output has slowed.

According to Saladu Idris, the CBN has taken initiatives to reach out to farmers through groups, ensuring that only those who are targeted benefit.

Idris said, “This dry seasoning farming is a very easy thing that people can do. The CBN has observed that all the flour mills in Nigeria have become moribund; everything is at a standstill.

“It observed that wheat is imported into the country, and this requires the use of dollars which is difficult to access. It is as a result of this that the CBN decided to set aside some money to give farmers to encourage the farming of this wheat.

“Each farmer is supposed to get a minimum of N370,000 per hectare and the other inputs, which include the bags of seedlings, the six bags of urea, four bags of NPK, the pumping machine and the spraying machine. All these are given to a farmer per hectare.

“The total amount of money set aside by the Central Bank of Nigeria for wheat farming in Bauchi State alone is over N5.7 billion. We have budgeted to fund 10,000 farmers. So far, we have distributed to about 4,500 farmers in Bauchi State.”