Central Bank disbursed N10.19billion loans to farmers in 2011

The Central Bank of Nigeria (CBN) says it disbursed about N10.190 billion loans for 56,328 applicants in the 36 states and the Federal Capital Territory under its Agricultural Credit Guarantee Scheme (ACGS) last year.

Statistics just released by the apex bank, on the total loans guaranteed under the scheme, show that out of this figure of beneficiaries, 53,803 were individual farmers.

A breakdown of the disbursement reveals that a total of N969.404million was guaranteed in the first quarter of 2011 compared to the N1.377billion in second quarter, while N3.553billion was disbursed in the third quarter.

 In the three month period ended December 2011, a total of N4.443 billion was disbursed to farmers under the ACGS.

On month-by-month basis, October accounted for the highest amount guaranteed, with about N1.877 billion disbursed. It was followed by November with N1.501 billion; July, N1.377 billion, while June and July recorded N1.223 billion and N1.222 billion respectively.


PT Mag Campaign AD

Support PREMIUM TIMES' journalism of integrity and credibility

Good journalism costs a lot of money. Yet only good journalism can ensure the possibility of a good society, an accountable democracy, and a transparent government.

For continued free access to the best investigative journalism in the country we ask you to consider making a modest support to this noble endeavour.

By contributing to PREMIUM TIMES, you are helping to sustain a journalism of relevance and ensuring it remains free and available to all.


TEXT AD: To advertise here . Call Willie +2347088095401...

NEVER MISS A THING AGAIN! Subscribe to our newsletter

* indicates required


Now available on

  Premium Times Android mobile applicationPremium Times iOS mobile applicationPremium Times blackberry mobile applicationPremium Times windows mobile application

All rights reserved. This material and any other material on this platform may not be reproduced, published, broadcast, written or distributed in full or in part, without written permission from PREMIUM TIMES.