This was disclosed on Tuesday, being 7th of June, 2016 by Mr Paul Elihaiway, the Special Adviser to the CBN Governor on Development Finance, during the sensitization workshop for Cross River State Rice Farmers, an event organized by the state government in partnership with the Central Bank of Nigeria (CBN) at the TINAPA Resort.
Owing to the global reality, where the economies of oil dependent states are lying prostrate with third world societies being the worst hit, the programme is intended to re-orientate indigenous farmers and create a sound value chain, not just for internal benefit, but to create a comfortable ground where, adequately, the state can be integrated into global trade-network, mostly in produce of her comparative advantage and confound the dictates of hydro carbon (crude) on her economy.
This is pursuant to the deliberate economy-diversification framework designed by Prof Ayade where high premium is placed on agriculture and industrialism for their complementary roles in driving the impetus of economic revival unto wealth explosion. The frame work reveals how proliferate industries in the state shall be fed with raw materials from within, produced by indigenous farmers, a situation that will enhance a remarkable recycling of revenue to stall capital flight.
This was the impressive template projected by Governor Ayade which made the CBN to include Cross River State in the Anchor Borrowers’ Programme. Just as the Principality of Dubai, under the Reign of her Crown Prince, Sheik Muhammed Bin Racheed Almatum made a pivot in her economy by looking away from oil into hospitality tourism, Cross River State, under the leadership of Prof Ayade is focusing on Agriculture and Industrialism. And to achieve this, there is the need for enabling fiscal and physical environments to be created which was why this programme was necessary.
For every hectre of a rice farm, the estimation, ranging from nursry, to clearing, to ploughing, to transplanting, to weeding, to fertilizer application, to harvesting, threshing and windowing is N230,000 (two hundred and thirty thousand naira) only. The loan attracts a single digit interest of 9%, no collateral. No farmer is expected to own more than five hectares. Same scheme is also to be organized for Farmers of Oil Palm.
The Governor of Cross River State, Prof Ben Ayade was represented by the Commissioner for Agriculture, Prof Anthony Neji. Other appointees that attended the programme were Chief Tony Undiandeye, the Special Adviser to the Governor on Public Affairs, Mr Emmanuel Anor, Special Adviser on NGO and others.
The Anchor Borrowers Programme for Cross River State is being coordinated by Honourable Godwin Akwaji, the Special Adviser to The Governor On Revenue.