Farmers under the aegis of the National Cotton Association of Nigeria (NCAN) have said they are targeting to produce over 300,000 metric tonnes of the crop in the next season. This is the result of increased funding by the Central Bank of Nigeria (CBN) under its anchor borrowers’ programme, NCAN president Anibe Achimugu told stakeholders at a recent meeting.
Achimugu, who is the chief executive officer of ArewaCotton, said the association is working with CBN to scale up production next year, targeting a minimum 300,000 farmers and 300,000 metric tonnes of cotton.
NCAN has recognised and registered over 151,000 farmers and has been able to participate effectively under the anchor borrowers’ programme, through which each farmer got a minimum of N170,000 in input financing, Nigeria media reports quoted Achimugu as saying.
