The International Monetary Fund (IMF) says only 24 per cent of loans disbursed under the Central Bank of Nigeria (CBN) Anchor Borrowers Programme (ABP) have been repaid.
The Washington-based lender in its recent report titled ‘Nigeria selected issues’ said agricultural credit in Nigeria has not significantly boosted production even though there is the challenge of targeting the right recipients for the credit.
In November 2015, President Muhammadu Buhari launched the ABP to boost agricultural production and reverse Nigeria’s negative balance of payments on food.
