Farmers Decry CBN’s Decision To Stop Funding Anchor Borrowers Programme

Farmers in the country have decried the decision by the Central Bank of Nigeria (CBN) has stopped funding the much lauded Anchor Borrowers Programme (ABP) leaving them with any other support. despite facing some of the most daunting challenges this year, coupled with the looming acute food shortage.

This was brought to fore by the Agricultural Commodities Association Forum of Nigeria yesterday in Abuja.

Chairman of the forum, Sadiq Umar Daware who disclosed this at a briefing with journalists, said that the act may eclipse the significant achievements that made by this administration in the agricultural sector and food production.

In this regard, the forum is seeking for audience with President Muhammadu Buhari to give him first hand information on Nigerian agriculture.

Daware noted that the associations and farmers was willing and able to manage the revolving fund and lending for effective utilisation and recovery.

The forum which comprises 68 commodity associations with over 18 million members across agric value chain, equally called on the government to take urgent steps to salvage the looming food crisis before it snowballs into a devastating proportion.

Among other quix fix solutions brought forward by the forum include, that, the President direct the CBN to urgently provide funds to farmers for the 2022/2023 dry season farming, provide support to victims of flood across the country and the support to affected farmers should be given directly to them and increase support to the Presidential Fertilizer Initiative (PFI) and expand it to the Presidential Fertilizer and Agro Inputs Initiative.

Daware stressed that driving the federal government food security drive, remains  a collective task that must be dispassionately pursued as the consequences of a food crisis could spell doom on the nation and dwarf the cumulative of all the security challenges we are currently grappling with. He said, 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”.