The current administration has disbursed more loans, credit facilities and other interventions into the agric sector, compared to past administrations, going by the reports of the Federal Government.
The lawmaker also noted that apart from increasing food supply, the schemes were to grant agricultural loans to large and small-scale commercial farmers to lower the prices of agricultural produce, generate employment and increase foreign exchange earnings. It was learnt that a bag of flour that sold N9, 000 before COVID-19, now goes for N13, 000, while a bag of sugar now costs N24, 000 as against the former price of N13, 000. Butter is now N12, 000 against N7, 500, while a bag of milk, which was N29, 000, now goes for N52, 000.
Just last year, the Federal Government sued about 70,000 farmers in Kebbi State over failure to repay N17b loan they collected under the Anchor Borrower Programme . A Food Security Advocacy Project Coordinator at Oxfam, Saratu Abiola, said the loans failed because government at state or federal level often doesn’t reach intended beneficiaries. “Most farmers are smallholders who are often likely to be unbanked. Either they don’t have the access to do paperwork needed to access loans, or the loans end up going to “briefcase” farmers as a result of corruption.
Lack of security for farmers, movement 🥺
Let Buhari explain o. Food stability was something Nigerians took for granted under previous govts
Disbursements to who?
Insecurity and food security are not mutually exclusive. It is not rocket science. I was discussing this thing with some traders in the market the other day. These loan schemes are only scratching the surface.
They are only loaning theme and there associates
What you should understand is that this guys are deceiving themselves, sharing the money within themselves and their families telling the masses all manner of lies
Farmers are afraid to farm and eat the disbursements at home.