Business A.M
No Result
View All Result
Wednesday, March 11, 2026
  • Login
  • Home
  • Technology
  • Finance
  • Comments
  • Companies
  • Commodities
  • About Us
  • Contact Us
Subscribe
Business A.M
  • Home
  • Technology
  • Finance
  • Comments
  • Companies
  • Commodities
  • About Us
  • Contact Us
No Result
View All Result
Business A.M
No Result
View All Result
Home Frontpage

Nigerian ginger farmers say central bank withholding approvals credit under Anchor Borrowers Programme

by Admin
September 18, 2018
in Frontpage
G
in Kaduna state are yet to feel the impact of the federal government’s Anchor Borrowers Scheme agriculture intervention programme (ABP) as over 5,000 applications to the Central Bank of Nigeria  (CBN) are yet to be considered for approval.
The farmers are also suffering from poor alternative credit facilities as they complained that commercial banks‘ lending attracts 28 percent interest rate for access.
Nuhu Najira, chairman, Ginger Farmers Association, in a monitored report, said lack of modern inputs and facilities to accelerate farming such as quality seeds, tractors, fertilizer and chemicals from the state government was also constraining ginger cultivation in the state.
 “We had negotiated to reach up to 12 percent interest but the banks declined and insisted on 28 percent,” the chairman said.
 “The last time we received these inputs was in 2014 and since then, we go through all the processes individually and as an association, but to no avail,” Najira added.
After production, the farmers are also confronted with poor pricing and what they describe as “so much interference by middlemen”. These challenges they say are responsible for the fall in the prices of the commodity both at local and the international market.
In 2017, ginger prices saw a 112 percent decline to N8, 000 from N17, 000 per bag in the local market, with similar drop recorded in the international markets.
Najiru said: “This happened at a time when farmers spent as much as between N900, 000 and N1.2 million as cost of production per hectare.’’
He noted that farmers require modern storage facilities for their produce to maintain quality to attract good price at the international market, adding that local storage of the commodity had resulted in losses to farmers due to exposure to contaminations which reduced the quality and standard required for export.
In a recent revelation, farmers in Kaduna state harvested a total of 723,971 metric tonnes of Ginger in the 2017 cropping season.
According to Reuben Sonkob, deputy director, Monitoring and Evaluation at the State Agricultural Development Agency (KADA) said the output was realised despite the challenges farmers faced during the season.
“Our records for 2017 showed that Ginger farmers harvested 723,971.56 tons of the crop in 2017 in spite of  various challenges the farmers faced  in the course of cultivating the crop,’’  Sonkob said.
Najira, also noted that the 9,560 members of the association, could ramp up the production of the commodity if they receive adequate empowerment.
But, Francis Danfulle, the deputy director, Agric Extension Services at KADA, explained that ginger farmers did not access funding support through the Anchor Borrower Programme due to the lack of commitment to pay by farmers who benefited from the scheme in 2016.
According to him, more than 30, 000 farmers applied for Anchor Borrowers credit facility when it was introduced in 2016 and 11, 000 of them cultivating other crops were unable to pay back the loan granted them.

 

Admin
Admin
Previous Post

NSE still in search of N157.68m to buy Nigeria’s first free mobile cancer centre, five years after

Next Post

Oil prices rise $79 per barrel on OPEC production hold back, Saudi Arabia’s comfort

Next Post

Oil prices rise $79 per barrel on OPEC production hold back, Saudi Arabia's comfort

  • Trending
  • Comments
  • Latest
Igbobi alumni raise over N1bn in one week as private capital fills education gap

Igbobi alumni raise over N1bn in one week as private capital fills education gap

February 11, 2026

How UNESCO got it wrong in Africa

May 30, 2017

CBN to issue N1.5bn loan for youth led agric expansion in Plateau

July 29, 2025

Glo, Dangote, Airtel, 7 others prequalified to bid for 9Mobile acquisition

November 20, 2017

6 MLB teams that could use upgrades at the trade deadline

Top NFL Draft picks react to their Madden NFL 16 ratings

Paul Pierce said there was ‘no way’ he could play for Lakers

Arian Foster agrees to buy books for a fan after he asked on Twitter

TikTok snubs Africa’s largest creator market as Nigeria missed in 2025 rewards rollout

TikTok backs AI literacy in Africa with $200,000 ad credits

March 10, 2026
Fuel market on edge as Dangote halts naira petrol sales

Dangote Refinery lowers petrol to N1,075/Litre, diesel to N1,430

March 10, 2026
Hospitality Giant BWH eyes Africa as key growth frontier

Hospitality Giant BWH eyes Africa as key growth frontier

March 10, 2026
Oil climbs as drone attacks slash Kurdistan output 

Oil falls as Trump signals possible end to Middle East war

March 10, 2026

Popular News

  • Igbobi alumni raise over N1bn in one week as private capital fills education gap

    Igbobi alumni raise over N1bn in one week as private capital fills education gap

    0 shares
    Share 0 Tweet 0
  • How UNESCO got it wrong in Africa

    0 shares
    Share 0 Tweet 0
  • CBN to issue N1.5bn loan for youth led agric expansion in Plateau

    0 shares
    Share 0 Tweet 0
  • Glo, Dangote, Airtel, 7 others prequalified to bid for 9Mobile acquisition

    0 shares
    Share 0 Tweet 0
  • Oyo targets 500 MW energy generation by 2027

    0 shares
    Share 0 Tweet 0
Currently Playing

CNN on Nigeria Aviation

CNN on Nigeria Aviation

Business AM TV

Edeme Kelikume Interview With Business AM TV

Business AM TV

Business A M 2021 Mutual Funds Outlook And Award Promo Video

Business AM TV

Recent News

TikTok snubs Africa’s largest creator market as Nigeria missed in 2025 rewards rollout

TikTok backs AI literacy in Africa with $200,000 ad credits

March 10, 2026
Fuel market on edge as Dangote halts naira petrol sales

Dangote Refinery lowers petrol to N1,075/Litre, diesel to N1,430

March 10, 2026

Categories

  • Frontpage
  • Analyst Insight
  • Business AM TV
  • Comments
  • Commodities
  • Finance
  • Markets
  • Technology
  • The Business Traveller & Hospitality
  • World Business & Economy

Site Navigation

  • Home
  • About Us
  • Contact Us
  • Privacy & Policy
Business A.M

BusinessAMLive (businessamlive.com) is a leading online business news and information platform focused on providing timely, insightful and comprehensive coverage of economic, financial, and business developments in Nigeria, Africa and around the world.

© 2026 Business A.M

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Technology
  • Finance
  • Comments
  • Companies
  • Commodities
  • About Us
  • Contact Us

© 2026 Business A.M