The Central Bank of Nigeria (CBN), has stopped disbursing funds to farmers under the Anchor Borrowers Programme (ABP) which started in 2015, but beneficiaries have kicked against this development.
Presidents of 68 agricultural commodities’ associations told journalists in Abuja that the apex bank stopped supporting farmers under the ABP scheme since 2021.
They called on President Muhammadu Buhari to direct the CBN to resume the disbursement of financial support to farmers to avert an impending threat to national food security.
Presidents of the All Farmers Association of Nigeria (AFAN), Maize Farmers Association of Nigeria (MAGPAMAN), Cotton Farmers Association of Nigeria (NACOTAN), among others, convened a forum in Abuja, where they spoke of the implications of the CBN’s action.
The Chairman, Forum of Agricultural Commodity Associations’ Presidents, Sadiq Daware, assured the CBN that though the recent floods dealt severely with farmers and affected the repayment of loans, the monies would be repaid.
He said the halt in financial support to farmers might erode the gains so far attained by farmers in the agricultural sector.
Daware said, “Since 2015 the bank has been providing support to farmers. In fact, a lot of money was disbursed and farmers to some extent have utilised those funds. You are all witnesses of the return of pyramids across the country.
“You have witnessed the ones in Kebbi, Niger, Gombe and some southern parts of the country. Recently, the Rice Farmers Association of Nigeria also built a pyramid here in Abuja.
“The Maize Association of Nigeria did the same in Kaduna. This is to show you that farmers have answered the President’s call to go back to farms and produce massively.”
He added, “But now, the CBN has stopped providing funds to support farmers and this was since 2021 till this year, 2022. For close to one and half years, farmers under our associations have not received support from the CBN.
“Therefore, we are calling on the President to again ask them (CBN) to continue supporting farmers in Nigeria to scale up capacity and produce what Nigerians can eat.
“I earlier stated that the government was spending about $2bn annually to support rice imports, but it has been able to save this huge amount of money and channel it to critical parts of the economy.”
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