NGF Pushes For Scrapping Of CBN’s Anchor Borrowers’ Programme

By Ayodele Oni

Chairman of the Nigeria Governors’ Forum, (NGF) and the Kwara State Governor, AbdulRahman AbdulRazaq, has called for an end to the Central Bank of Nigeria, (CBN) funded Anchor Borrowers Programme, describing it as total failure.

The programme introduced and being funded by the CBN was intended to assist farmers to provide loans in kind and cash to boost agricultural production.

Upon harvest, benefitting farmers are expected to repay their loans through produce. As at 2022, the CBN announced that it’s lending under the programme stood at N629 billion.

The NGF chairman said it is high time the Tinubu-led administration returned all agricultural programmes under the Central Bank of Nigeria, CBN, back to the Federal Ministry of Agriculture and Food Security for meaningful impact.

According to Abdulrazaq, the Anchor Borrowers Programme was a failure and never met the aims and objectives of setting it up, hence a lot of indebtedness recorded.

The governor was speaking when he led his three other counterparts on a visit to the minister of Agriculture and Food Security, Senator Abubakar Kyari in Abuja.

Other governors on the entourage were Governor of Ondo State, Lucky Aiyedatiwa, Governor of Taraba State, Dr Agbu Kefas; and Governor of Kogi State, Ahmed Usman Ododo.

He also boasted that Nigeria can feed itself and the entire West Africa, pointing out that the cheap food in West Africa is in Nigeria, hence most West African countries are coming to buy food from Nigeria.

The NGF chairman acknowledged and commended the Minister and his team for the initiative to closely work with the State Governments to achieve the long expected food security under the ‘Renewed Hope’ Agenda of President Bola Tinubu.

He called for resuscitation of the moribund Agricultural Development Programmes, (ADPs), in some States, and the active role of River Basin Development Authorities, (RBDAs), including National Agricultural Lands Development Authority, (NALDA), to embark on land clearing for more agricultural activities along various value chains.

Earlier, the minister expressed excitement over the endorsement by State Governors of the food security programmes rolled out through the Federal Ministry of Agriculture and Food Security.

Kyari, stated that “This visit is without a doubt a huge endorsement for the progressive drive towards the much-needed collaboration between the Federal Ministry of Agriculture and Food Security and State Governments.

“This is with a view to creating an Agricultural Sector fit for a nation as endowed as Nigeria with massive arable fertile land, abundant water resources and agricultural labour force.

“Your Excellencies, we are aware that in your respective states, agriculture has witnessed noticeable development over the years.

“The bigger picture we seek to create now is to vastly increase agricultural production all-year round with the cardinal objective of driving down food inflation, creating employment, reducing poverty, engendering economic growth and development, as well promoting inclusivity.

“We are confident that we can partner in the realization of these objectives. There is no question that if we get things right now, and  with all hands on the plough, future programmes and projects will enable us more seamlessly achieve all-year-round agricultural production.

“It implied Your Excellencies, that the more involved the sub-national governments are the more sustainable agricultural production becomes and the higher the chances of realizing the interconnected 8-Point Agenda of President Bola Ahmed Tinubu, GCFR.”