Sen. Abdullahi Adamu, the Chairman of the National Agricultural Foundation of Nigeria (NAFN), has lauded the Central Bank of Nigeria (CBN's) N200 billion intervention fund for commercial agriculture.
Adamu gave the commendation in Abuja on Wednesday in an interview with the News Agency of Nigeria (NAN).
He praised the Governor of the CBN, Malam Sanusi Lamido Sanusi, for his role in making the intervention fund a reality.
“As at last year he (Sanusi) has been able to interact with the Bankers' Committee and officials of the Federal Ministry of Agriculture and Rural Development and farmers association at various levels.
``He has ensured the administration of that N200 billion for commercial agriculture. ’’
The CBN in 2009 established the N200 billion Commercial Agriculture Credit -Guarantee Scheme (CACS), to promote commercial agricultural enterprises.
It is being funded through the issuance of Federal Government bonds by the Debt Management Office (DMO) in two tranches.
Under the CACS, N101.38 billion had been released to finance 109 privately-owned projects and 19 State Governments received one billion naira each for disbursement to farmers’ cooperatives and unions.
The other batch is the Small and Medium-Scale Enterprises Guarantee Scheme (SMECGS), established to help manufacturers in the Small and Medium-Scale Enterprises (SMEs), have access to credit.
Adamu, who described the intervention as being in line with the transformation agenda of the Federal Government, said that some farmers had benefited from the fund.
He commended various agricultural reforms anchored by the the Presidency and the Ministry of Agriculture and Rural Development.
“We run a federal system of government and the national government is the facilitator of everything that involves the development of agriculture in Nigeria. ’’
Adamu, who is also a former Governor of Nasarawa State, urged President Goodluck Jonathan to continue to give agriculture priority attention.
He encouraged states governments to do the bidding of the federal government by putting agricultural transformation, as their primary interest.
He appealed to the Federal Government to give moral support to the National Agriculture Show.
The 2012 edition of the show is billed for Oct. 12 to Oct. 16 at the show ground at Km. 28 on the Abuja-Keffi highway in the Tudun Wada/ Karu Local Government Area of Nasarawa State.
NAFN is the body responsible for organising the show.