The International Monetary Fund has disclosed that only 24 per cent of loans disbursed under the Anchor Borrowers’ Programme of the Central Bank of Nigeria have been repaid.

This disclosure was contained in the IMF’s Selected Issues paper on Nigeria, which was prepared by a staff team of the fund as background documentation for the periodic consultation with the country.

It was noted that the document was based on the information available as of the time it was completed on January 12, 2023.

According to the IMF, agricultural credit in the country has not significantly boosted production even though there is the challenge of targeting the right recipients for the credit.