Mr Africafarmer Mogaji, Chairman, Agriculture and Agro-Allied Group, Lagos Chamber of Commerce and Industry says the Central Bank of Nigeria Anchor Borrowers’ Programme (ABP) and NIRSAL loan should be overhaul to reach the appropriate beneficiaries.
Mogaji said in Lagos that the suspension of the CBN NIRSAL anchor borrowers’ programme is a mix feeling.
He said that revamping of the programme was long overdue adding that the system had not been reviewed since its establishment in 2015 by President Muhammadu Buhari.
He said that the efficiency, effectiveness and execution of the programme in recent times, was becoming challenging to many beneficiaries.
He said that programme should be reformed to address the present realities in the agric space, where over 80 per cent are small holder farmers.
Mogaji was reacting to the suspension of CBN anchor borrowers’ NIRSAL loan to farmers following alleged fraud by the CEO.
According to him, the anchor borrowers’ programme/ NIRSAL loan is a good initiative that I support.
“However, in term of the efficiency, effectiveness and execution in recent times, is a bit challenging.
“If government get it right, when they are revamping it, it should get to the right people.
“Just removing the man in charge or suspending him doesn’t solve the problem.
“Is government going to overhaul the system? The system has not been change since they started it in 2015,” he noted.
Mogaji noted that some experts and practitioners in the agric space had in the past clamored for the reform of the ABP to meet the realities in the country.
“There should be anchor that will anchor the 50 hectares of farm because most of the farmers, over 80 per cent are small holders.
“When you say anchor should go and bring large amount of farmers with large lands and others, it is very difficult.
“The new anchor borrower programme should represent the realities of the agric sector in the country,” he said.