By CGTN Africa

The Central Bank of Nigeria (CBN) said it will support farmers with a 432 billion naira ($1.1 billion) loan in the 2020 wet planting season to boost food production in the West African nation.

The Abuja-based central bank will support more than one million farmers to cultivate over a million hectares of farmland, it said on its Twitter account on Thursday.

Nigeria is encouraging investment in agriculture to help diversify the economy away from oil, which accounts for more than 90% of export revenues. The central bank targets increasing output of major food and cash crops including cotton, rice, tomato, cassava, cocoa and maize.

Post a comment

Advertise your Business, Event, Campaign and make publication on Boki Blog to reach over 70% of Boki Citizens.

Contact us on Bokiblogonline@gmail.com

About Author

Hi, I,m Pospi Otuson. A Nigerian Blogger, Social Entrepreneur and Convener of the renowned Boki Business Conference. CEO/Founder of Possibility Desk, the largest online consulting platform for possibilities in the world. Lets connect today.

Let's Get Connected:- Twitter | Facebook | Google Plus | Linkedin | Pinterest

'; (function() { var dsq = document.createElement('script'); dsq.type = 'text/javascript'; dsq.async = true; dsq.src = '//' + disqus_shortname + '.disqus.com/embed.js'; (document.getElementsByTagName('head')[0] || document.getElementsByTagName('body')[0]).appendChild(dsq); })();