…Sets to access N3.750bn for rice, soy bean, maize, aquaculture
Governor of Cross River state, Ben Ayade has inaugurated a multi-sector driven Project Management Team (PMT) for the upcoming prime anchor scheme, the which is acilitated by the African giant, Dantata Foods and Allied Products Company Limited.
Inaugurating the PMT, the Commissioner for Commerce, Rosemary Achibong on behalf of Ayade, said the scheme was initiated by the Central Bank of Nigeria through Zenith Bank Plc.
A statement by the spokesperson of the Dantata Foods, Sanusi Bature and made available to ASHENEWS on Wednesday, explained that the scheme will support 15,000 farmers for the production of rice, maize, and soya beans as well as aquaculture in the state.
It added that membership of the team was drawn from the Ministries of Commerce and Agriculture of Cross River state, respectively; the Development Finance Office of the Central Bank of Nigeria; the representatives of Zenith Bank; representatives of farmer groups and the Development Partners from the Feed the Future Agribusiness Activity of the United State Agency for International Development (USAID).
Under the scheme, Dantata Foods will engage 15,000 farmers with at least one hectare of farmland each, for the production of specific crops from the next farming season.
According to the statement, each farmer could access up to N250,000 as a loan with a guaranteed up-take of their produce during harvest period.
The project tagged: “Cross River Empowerment Initiative”, is worth N3.750 billion aimed at improving the livelihoods of smallholder farmers and to create economic prosperity in the state through agribusiness.
According to the scheme, the CBN puts it as mandatory for all prime anchor schemes, to setup PMT with representatives from all key stakeholders before the approval of funds to the private investors through commercial banks.
The chairman of Dantata Foods, Tajuddeen Dantata during the virtual inauguration ceremony, described the event as a milestone achievement for the company.
He appreciated CBN’s decision to promote private sector-led agribusiness interventions in Nigeria.
