Agric stakeholders predict hunger as CBN halts anchor borrowers programme

The Agricultural Commodities Association of Nigeria has faulted the termination of the Anchor Borrowers Program (ABP) by the Central Bank of Nigeria (CBN).

The Association said this act alone may eclipse the significant achievements that have been made by this administration in this sector.

The Chairman, Forum of Agricultural Commodity Associations Presidents, Sadiq Umar Daware while addressing journalists on Thursday in Abuja, said despite the gains in agricultural sector, Nigeria is currently being inundated with a myriad of challenges for which we seek urgent government intervention.

These challenges according to Daware range from insecurity, lack of consistence access to affordable finance, unavailability of quality inputs, skyrocketing prices of inputs, high post-harvest losses, fragmented and unstructured market and the dangers associated with negative climate change.

He said the situation has been exacerbated by the flash floods currently being experienced across the country and the drought in others.

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Daware therefore called on President Muhammadu Buhari to direct the CBN to release funds to farmers for the 2022/2023 dry season farming.

“We want to bring to your notice that despite these daunting challenges experienced during 2021/2022 farming season, CBN has halted funding of Anchor Borrowers Program and no other support was given to farmers.

“This singular act may eclipse the significant achievements that have been made by this administration in this sector. In this regard, the forum is seeking for audience with Mr President to give him first hand information on Nigerian agriculture.

“Mr President should direct the CBN to urgently provide funds to farmers for the 2022/2023 dry season farming. This should be treated as top priority and acted upon expeditely”, he said.
He also urged the government to provide support to victims of flood across the country and the support to affected farmers should be given directly to them.

“Government should increase support to the Presidential Fertilizer Initiative (PFI) and expand it to the Presidential Fertilizer and Agro-Inputs Initiative”, he noted.

He said as an association and a forum, they are committed to deploying their best efforts to assist the government in its drive towards revamping the agricultural sector.

“The commodity associations, because they are directly working with active farmers across all commodities, are both willing and able to manage a revolving fund.

“These funds that shall revolve over a long period shall be for onward lending to farmers with the associations being responsible for effective utilisation and recovery.

“The association is willing to partner with the private sector under a PPP arrangement to provide quality and affordable inputs to farmers in a timely manner.

“The association shall seek mutual collaboration with the ministry of Environment and other relevant organisations to promote the adoption of climate-smart agriculture. Also, flood mitigation practice shall be adopted based on international best practices to brace our farmers for the impact of flood and other climate-change related challenges.

“The association is willing to assist in the identification and partner in the development of agro-processing zones in different parts of the country based on comparative advantage”, he noted.