From Ndubuisi Orji, Abuja
The House of Representatives has resolved to investigate alleged mismanagement of N1.12 trillion Anchor Borrowers Fund and N215. 066 billion Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL) fund.
Consequently, the House mandated its Committees on Nutrition and Food Security as well as the Committee on Agricultural Production and Services; Agricultural Colleges and Institutions and Finance to undertake the probe.
The Committees, which are expected to report back to the House in four weeks, is also expected to probe the disbursement of N3 billion to 22,120 smallholder farmers by the Bank of Industry ( BoI) through the Agriculture Value chain financing (AVCF) Programme.
Similarly, the panel is to probe the management of N5 billion facility to the Bank of Agriculture (BOA) for livestock farmers across the country, as well as the management of the national agricultural development N1.6 billion recovery fund for the Ginger Blight Epidemics Central Taskforce (GBECT) for the control of blight disease in ginger, among other interventions.
This followed the adoption of a motion by the member representing Ehime Mbano/ Ihitte Uboma/ Obowo Federal Constituency of Imo State, Chike Okafor, on the “alleged Mismanagement of Government Agricultural Initiatives and Funding by Departments, Agencies and Government Programmes Outside the Federal Ministry of Agriculture and Food Security”.
Okafor, in his lead debate, said there is a link between growing food scarcity and malnutrition in Nigeria and alleged mismanagement of agricultural funds intended for agricultural development in the country.
He noted that though the Federal Government has expended two trillion Naira in the last eight years on various agriculture schemes and interventions, alleged mismanagement of the funds and abuse of the programs has left Nigeria is with the twin challenges of food scarcity and malnutrition.
According to him,”As the House should be aware there have been reports and allegations of abuse, mismanagement, and misapplication of government intervention funds earmarked for agricultural development and food security initiative in Nigeria.
“Funds advanced to end users of the various Federal Government interventions have also been allegedly misused, misapplied and channelled to non-farming and non-agricultural purposes, hence the current acute scarcity of food”.
He added that there are “ allegations of abuse, mismanagement, and misapplication of government intervention funds earmarked for agricultural development and food security initiatives in Nigeria through the: Central Bank of Nigeria (CBN) through the Anchor Borrowers Program (ABP) disbursed about I.12 trillion Naira to 4.67 million farmers involved in either maize, rice or wheat farming through 563 anchors.
“The Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL) disbursed (two hundred and fifteen billion, sixty-six million, nine hundred and eighty thousand,
two hundred and seventy-four Naira, fifty-two Kobo) so far to facilitate agriculture and agrobusinesses.
“Bank of Industry (BOI) disbursed 3 billion Naira to twenty-two thousand, one hundred and twenty smallholder farmers through the Agriculture Value chain financing (AVCF)
Programme. Additionally, the bank funded forty-nine agro and food processing businesses with 59.4 billion Naira in loans.
“In 2023, the Federal Government of Nigeria unveiled a 5 billion Naira loan facility to the Bank of Agriculture (BOA) for Livestock farmers across the country.
“National Agricultural Development Fund in March of 2024 inaugurated a NI.6 billion Recovery Fund for the Ginger Blight Epidemics Central Taskforce (GBECT) for the control
of Blight disease in Ginger, among other interventions.”
Okafor called for an investigation into the disbursement of funds meant for the agricultural sector as it plays a crucial role in ensuring food security, improving nutrition, and supporting the livelihoods of millions of Nigerians.
“Any abuse of the programmes and schemes of Government drastically affects millions of innocent citizens”, he stressed.
The lawmaker, who called for an investigation into the disbursement of funds meant for the agricultural sector, as it plays a crucial role in ensuring food security, improving nutrition, and supporting the livelihoods of millions of Nigerians.
Okafor said “Any abuse of the programmes and schemes of Government drastically affects millions of innocent citizens”.