OVER 700, 000 wheat farmers could earn more N400, 000 per hectare, totalling N210 billion from next year, going by interventions introduced to the Central Bank of Nigeria (CBN), and OCP Fertilisers Nigeria Limited.

This represents an addition to the earnings of wheat farmers, estimated at N350, 000 per hectare, after deducting production costs. The move will also increase projected yield beyond 450,000 metric tonnes yearly.

The boost comes on the heels of a new deal among OCP Africa, a phosphate-based fertiliser producer, Lake Chad Research Institute (LCRI), Institute of Agricultural Research and Training (IART) and Bayero University Kano (BUK) on the production of special wheat fertiliser that would ensure maximum crops.

The Head of Agronomy, OCP Nigeria Fertilisers, Dr. Donald Madueke, explained that the fertiliser formulation for achieving this was ready at the research institutes but needed to undergo field trails and validation before they were given out to farmers and other fertiliser blending plants across the country.

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He reiterated the organisation’s mission to support research for agricultural development, adding that the company is determined to make a major contribution to the modernisation of the agricultural sector and agro-systems by improving methods and systems to boost the competitiveness of the country’s agriculture. Under the CBN’s Anchor Borrowers Programme, farmers are given improved seeds for wheat production.

The Executive Director, LCRI based in Maiduguri, Borno State, Dr Oluwasina Olabanji, explained that the apex bank’s intervention through the Seed Multiplication Programme supports farmers in cultivating thousands of hectares to make seeds available for cultivation.

According to him, the intervention of the CBN will address the country’s declining wheat production, which has been hampered by inadequate seed and lack of technical knowledge transfer on the production of improved seeds. Nigeria spends about $4.7 billion yearly on wheat import, as it requires 5.1 million tonnes of grains, but produces only 300,000 metric tonnes,  thereby depending on imports to meet the huge deficit.

He added that wheat consumption was bound to increase from the import level of $5.1billion between this year and 2050 due to growing population, especially in the urban cities if proactive actions were not taken.