C’River govt unlocks N150bn farm credit for farmers

From Aniekan Aniekan, Calabar

Cross River State Government has unveiled a cash back guarantee scheme to unlock N150 billion in cumulative agricultural financing for farmers and agribusinesses across the state.

Implemented through Project Grow, the initiative is designed to de-risk lending for financial institutions and increase credit access, one of the biggest constraints facing agriculture. Project Director, Mr. Denis Ikpali, said the scheme assures banks against loan defaults, boosting their confidence to lend to farmers.

“So far, the intervention has facilitated over N3 billion in agricultural financing. About N1.5 billion is set to be accessed by farmers and agribusinesses ahead of the 2026 farming season.

“The focus is to ensure farmers are not left to struggle with production alone, but are directly linked to structured markets where quality, pricing and demand are clear from the beginning of the production cycle,” he said.

Project Grow secured an N18 billion off-take agreement with Flour Mills of Nigeria for the supply of 2,000 metric tons of soybeans and 20,000 metric tons of maize. The project has also delivered a test batch of 11.4 metric tons of soybeans to Flour Mills in Ibadan, signalling Cross River’s entry into structured national agricultural supply chains.

Since its inception in November 2023, the project has recorded steady progress across all 18 local government areas. Active clusters include Odukpani, Ogoja, Obubra, Yakurr, Yala, Ikom, Obudu and Obanliku.

The initiative operates across primary value chains, including rice, maize, cassava, animal fodder and aquaculture, plus secondary chains such as soybean, cowpea, wheat, sorghum and groundnut.

Over 5,300 farmers have been trained in partnership with AFOS, a German-funded NGO with about 450 hectares of maize and soybean farms supported in the 2025 cycle, while 2026 soybean production is projected to cover 1,000 hectares.

The market systems approach has also led to the emergence of 28 agribusinesses, including aggregators and service providers, alongside restructured farmer cooperatives which has  created 391 direct jobs across different value chain activities.

Commissioner for Agriculture and Irrigation Development, Johnson Ebokpo, said agriculture remains a strategic pillar under Governor Bassey Otu’s administration.

The governor, he added, aims to create a resilient agro based economy anchored on proper market systems to drive economic growth, youth employment and food security.