Nigeria’s palm oil producers call for early disbursement of CBN Loan

Agribusiness

 

Oil Palm Growers Association of Nigeria (OPGAN) has called for early disbursement of Central Bank of Nigeria (CBN) loans to kick-start planting.

Its National President, Mr. Igwe Uche, said the support from CBN may not be useful, if it comes when the farmers could no longer plant because of limited rainfall.

“If there is any way they can do that fast because this is the time so that people can plant seedlings, this is the time to clear the bush.

“I suggested to them that disbursement of funds should be done in February, so that farmers can plant during the rainy season”, he added.

He said that the oil palm farmers have met the requirements needed by the Central Bank of Nigeria(CBN) to access loans for this year’s planting season, said they were yet to get the funds.

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