Cotton Farmers under the National Cotton Association of Nigeria (NACOTAN) have said they are targeting to produce over 300,000 metric tonnes of the crop in 2020.

This is coming as a result of the increased funding from the Central Bank of Nigeria (CBN), under the Anchor Borrowers’ Programme of the apex bank.

According to the Managing Director/CEO-ArewaCotton and President, National Cotton Association of Nigeria, Anibe Achimugu, during a stakeholders meeting with state chairmen and secretaries of the association to strategise on aggregation, collection and recovery of the ABP loan in Abuja.

Mr Achimugu said, “since my coming on board, we have recognized and registered over 151,000 farmers, we have been able to participate effectively under the Anchor Borrowers’ Programme where each farmer got a minimum of N170,000 in input financing.”

He said that the association was working with the Central Bank of Nigeria to upscale production next year, adding that “we are targeting a minimum of 300,000 farmers, that alone- even with one tonne per hectare, that is 300,000 metric tonnes.”

“As we speak today, we are looking at around 200, 000 metric tonnes but we talking about yields of 1.5 to 2 tonnes.”

“Last year average yield was just 500 to 600 kilograms per hectare. Now we have good seed and if you go around, you will see what is happening.”

The NACOTTAN president concluded, saying, farmers have received assurances from the CBN to boost cotton production in Nigeria.