• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Sunday, June 29, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

N1trn Anchor Borrowers’ Loan: Rice Farmers Seek Presidency’s Intervention

by Adegwu John
2 years ago
in Cover Stories, Featured, News
Anchor Borrowers' Loan
Share on WhatsAppShare on FacebookShare on XTelegram

As they count their losses, large scale rice farmers in the country have appealed to the Presidency to wade into the controversy surrounding the N1 trillion Anchor Borrowers’ Loans they allegedly defaulted in repaying.

Advertisement

Their appeal came against the presidential directive to security agencies to recover the huge loans from the beneficiaries.

The rice farmers, who had been accused of loan repayment defaults and mismanagement, said the current situation would have been averted had the Central Bank of Nigeria (CBN) directed the Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL) to take 50 per cent responsibility of losses incurred by the farmers.

They, therefore, called on President Bola Ahmed Tinubu to intervene by prevailing on the CBN and NIRSAL to take necessary actions towards addressing the issue. 

The ABP was funded by the CBN under the suspended governor of the apex bank, Mr. Godwin Emefiele.

RELATED

Saudi Arabia Okays Burial Of Late Dantata In Madina On Monday 

Saudi Arabia Okays Burial Of Late Dantata In Madina On Monday 

11 minutes ago
Muslims Have Constitutional Rights To Shari’a Adjudication – Sultan

Sultan Tasks Political Leaders On Motto Of National Institute

29 minutes ago

In a statement released yesterday in Abuja by the chairman of the Concerned Rice Farmers of the North-East/Nigeria, Alhaji Mohammed Abba Liman, he said, “We appreciate the efforts of Mr. President and align with his policy initiatives in trying to reposition the agricultural sector of the economy and the Anchor Borrowers Programme (ABP) for the purpose of boosting food production in order to enhance national food security.”

The rice farmers said their members did not default or mismanage the loans but that they had suffered losses running into hundreds of millions of Naira on account of “insecurity and flooding” and that “NIRSAL which was created to provide insurance cover for all farmers in the agricultural sector has failed to intervene when farmers raised the issue of losses they incurred as a result of insecurity, flooding and COVID-19 pandemic”. 

They lamented that “Boko Haram insurgency, banditry and conflicts between farmers and herders, as well as floods adversely affected their yields and harvest nationwide, especially in the North-East, North-West and North-Central”. 

Liman said, “We however wish to categorically debunk reports in some certain quarters that portray rice farmers in the country in a wrong light, especially with regard to the ongoing investigation into the alleged mismanagement of the much commended Anchor Borrowers Programme (ABP).

“We invested our loans wisely and we have immensely contributed to the improved local rice production, creation of jobs and huge impacts on the national economy. And we have committedly sustained strong efforts towards paying back all loans from ABP.

“Our members have however incurred losses running into millions and billions of Naira as a result of insecurity and flooding in the country and we have not been able to get the attention of the authorities to look into these critical factors,” he said.

 The chairman also said that rice farmers raised the alarm severally and wrote “complaint letters to former President Muhammadu Buhari alerting him on the threats of Boko Haram insurgency, banditry and the need to provide adequate security for the farmers and their farms but were never given attention”, he said.

The stakeholders also said that “the NIRSAL has not responded accordingly to the need to take 50 percent liability of the huge losses incurred by farmers until all the loans are fully repaid according to the provisions of the law. Justice should be done”.

They hailed ABP, saying that despite all the challenges occasioned by the global pandemic, COVID-19, rice farmers braved the odds and enhanced local production of rice and subsequent banning of importation of rice.

The ABP, the farmers said, “contributed immensely in tackling food crisis and widespread hunger in Nigeria occasioned by COVID-19”.

Shettima also said farmers made history through the ABP by organising Africa’s first rice pyramids at the Abuja International Trade Fair in 2021, commissioned by the then President Buhari. 

While they pledged to support the president’s agricultural policy initiatives and mobilise rice farmers in Nigeria to support his government, they called on him to intervene in this matter.

 

 

 


We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →

Join Our WhatsApp Channel

BREAKING NEWS: Nigerians can now earn US Dollars from the comfort of their homes with Ultra-Premium domains, acquire them for as low as $1700 and profit as much as $25,000. Click here to learn how you can earn US Dollars consistently.


Tags: Anchor Borrowers' LoanRice Farmers
SendShareTweetShare
Previous Post

Kaduna APC Supporters Wants Durunguwa As Minister

Next Post

AT LEADERSHIP TWITTER SPACES: Gabonese Junta Out To Protect Bongo’s Interest, Stakeholders Reveal

Adegwu John

Adegwu John

You May Like

Saudi Arabia Okays Burial Of Late Dantata In Madina On Monday 
News

Saudi Arabia Okays Burial Of Late Dantata In Madina On Monday 

2025/06/29
Muslims Have Constitutional Rights To Shari’a Adjudication – Sultan
News

Sultan Tasks Political Leaders On Motto Of National Institute

2025/06/29
70% Nigerians Without Insurance Cover — NCRIB 
News

70% Nigerians Without Insurance Cover — NCRIB 

2025/06/29
Monarch Commends Globacom On Ojude Oba Festival
Entertainment

Ojude Oba: Brands, Celebs Find New Spotlight

2025/06/29
Mádé Kuti Drops New Single ‘Wait And See’
Entertainment

Mádé Kuti Drops New Single ‘Wait And See’

2025/06/29
I Was Homeless, Slept In My Car For Months After I left Banky W’s Record Label – Skales
Entertainment

I Haven’t Seen My Daughter In A While – Skales

2025/06/29
Leadership Conference advertisement

LATEST

Saudi Arabia Okays Burial Of Late Dantata In Madina On Monday 

Sultan Tasks Political Leaders On Motto Of National Institute

Kanu, Ikpeba To Attend NNL Super 8 Opener

WAFCON 2024: CAF Celebrates Former Super Falcons Captain, Ebi

70% Nigerians Without Insurance Cover — NCRIB 

Ojude Oba: Brands, Celebs Find New Spotlight

Mádé Kuti Drops New Single ‘Wait And See’

I Haven’t Seen My Daughter In A While – Skales

What Inspired Me To Go Into Music – Only1Bennie

Kogi, Others Target $750m SABER  Fund To Promote Ease Of Doing Business 

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.