The Anchor Borrowers’ Programme (ABP)
The Anchor Borrowers’ Programme (ABP) was established to create economic linkages between small holder farmers (SHFs) and reputable companies (anchors) involved in the production and processing of key agricultural commodities. The core objective of the programme is to provide loans to small holder farmers, boost agricultural production, create jobs and reduce food import bill towards conservation of foreign reserves.
Thrive Agric is one of the beneficiaries of this intervention in Benue State.
Name: Thrive Agric
Intervention: Anchor Borrowers Programme (ABP)
Sector: Agriculture
Location: Benue State
Thrive Agric is an agricultural technology-driven company established to support the Federal Government’s food security policy. The company provides a linkage between farmers and off-takers, providing increased yield. Thrive Agric believes that smallholder farmers are the key to unlocking the continents’ food production possibilities.
The company accessed a facility under the Anchor Borrowers’ Programmme (ABP), and has produced and traded over 500,000MT of grains, onboarded 250,000 farmers, cultivated 35,000Ha of land and has so far created 9,000 jobs. Through the company’s efforts, farmers now have access to local and global markets for their commodities.
The Commercial Agriculture Credit Scheme (CACS)
Commercial Agriculture Credit Scheme (CACS) was established to promote commercial agricultural enterprises in Nigeria by providing single digit interest loans to commercial players in the agricultural value chain.
Name: Mikap Nigeria Limited
Intervention: CACS
Sector: Manufacturing
Location: Benue State
Mikap Nigeria Limited, one of Nigeria’s largest agricultural and agro-chemical manufacturing companies benefitted from the CACS intervention. The funds were used to boost the rice production arm of the business. Since accessing the loan, the company has grown in scope, manpower and commodity output.
Mikap prides itself in leveraging the latest available technology in crops and livestock development to boost large-scale food and agro-chemical production, a feat made possible through the CBN-CACS Intervention.
Agribusiness Small and Medium Enterprises Investment Scheme (AgSMESIS)
Agribusiness Small and Medium Enterprises Investment Scheme (AgSMESIS) was established to support the Federal Government’s efforts at promoting agricultural business /small and medium enterprises (SMEs) as a vehicle for sustainable economic development and employment generation.
Name: Alh Ibrahim Fulani Jimoh
Intervention: AgSMEIS
Sector: Micro, Small &
Medium Enterprises (MSME)
Location: Benue
Mr. Ibrahim started as a roadside tyre merchant /vulcanizer in Benue state, after accessing the AgSMEIS loan, he set up a highly automated vehicle service centre and over time his business has grown. He is currently an employer of seven staff.
Targeted Credit Facility (TCF)
The Central Bank of Nigeria introduced the Targeted Credit Facility (TCF) as a stimulus package to support households and small businesses affected by the COVID-19 pandemic. One of the beneficiaries of this facility is Mrs. Sewase Tewase.
Name: Tewase Sewase
Intervention: TCF
Sector: Agriculture (Piggery)
Location: Benue
She heard of the loan through a colleague and applied online through a dedicated website managed by NIRSAL Microfinance Bank Ltd (NMFB). The fund assisted in the setup of her pig farm and aided her to conclude the perimeter fence, construct stalls and purchase pigs for breeding.
She has been able to hire a manager and a veterinarian. She expressed her profound gratitude to the Federal Government for developing initiatives targeted at empowering youths in the country.
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