Central Bank of Nigeria (CBN) has released N16 billion for Anchor Borrowers Programme.

The apex bank has also been applauded for its new foreign exchange policy restricting forex access for maize imports.

Maize Association of Nigeria (MAAN) said the apex bank acted in the best interest of the economy, urging farmers to explore the opportunities presented by the restrictions to increase production capacity.

MAAN President, Mr Abubakar Bello spoke at a news conference in Abuja, listing achievements of the last planting season.

He said though the association was targeting about 25 million metric tonnes of maize production in this year’s planting season, it might suffer about 25 per cent reduction due to Covid-19 pandemic.

According to him, maize farmers have cultivated about 250,000 hectares of maize in this year’s wet season farming.

He said in the 2020 planting season, CBN had supported the value-chain of maize production, providing the needed input from land preparations to harvesting, aggregation and storage.

He said the apex bank has supported by providing high yielding maize seeds to members, adding that with the steps being taken by government, the country could be self-sufficient in maize production in the next few months.

The Nation