The Central Bank of Nigeria (CBN) has approved the disbursement of about N75billion as loan to farmers in the 36 states and the Federal Capital Territory (FCT) under the Nigerian Incentive-Based Risk Sharing in Agricultural Lending (NIRSAL). The loan guarantee scheme is a public-private sector initiative set up to transform the country’s agricultural sector. It […]
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CBN finances 568 agric projects with N577bn
A total of 568 agricultural projects valued at N577.3bn have been financed by the Central Bank of Nigeria under the Commercial Agriculture Credit Scheme. The CACS commenced in 2009 as part of the developmental role of the CBN to the economy to stimulate funding for the agricultural sector. The fund was set up by the […]
Number of poor Nigerians rises to 91 million —World Poverty Clock
The number of extremely poor Nigerians has risen to 91.6 million, according to the World Poverty Clock. This implies that virtually half of Nigeria’s population now live in extreme poverty. The World Poverty Clock had named Nigeria the poverty capital of the world last June when it revealed that Nigeria had 87 million people living […]