The Federal Government has granted N6.4 billion loan to farmers in Gombe, Adamawa and Taraba states. The loan was aimed at boosting cotton production during the rainy season.

The Central Bank of Nigeria, (CBN) has assured members of National Cotton Association of Nigeria (NACOTAN) Ekiti chapter of its financial assistance to enable them embark on massive production of cotton in the state.

The Central Bank of Nigeria (CBN) has urged the leadership of the National Cotton Association of Nigeria (NACOTAN), to prevail on the 30, 000 cotton farmers in Kano state who benefited from the Anchor Borrower programme to ensure prompt payment of the loan facility.

The National Cotton Association of Nigeria (NACOTAN) has said its members had increased their initial production of 200,000 metric tons to 300,000 metric tons for 2020, as they target to bring about 300,000 farmers on board.

The Central Bank of Nigeria (CBN) is looking at injecting N100 billion as its intervention in the cotton, textile and garment (CTG) value chain.

So far the apex has disbursed about N50 billion to the cotton and ginning components of the intervention.