This followed the adoption of a motion moved by Hon. Chike Okafor during the plenary in Abuja.
Moving the motion, Okafor noted that there is growing food scarcity and malnutrition in Nigeria and the alleged mismanagement of agricultural funds intended for agricultural development in the country.
He also noted that the Federal Government, through various schemes and interventions in the last eight
years have spent over two trillion Naira in funding agricultural interventions with the view of making food available for millions of Nigerians, but due to the alleged mismanagement, misapplication
of funds and abuse of the programs, Nigeria is still experiencing food scarcity and malnutrition
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According to him, the reports and 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, through the Anchor Borrowers Program disbursed about I.12 trillion Naira to 4.67 million farmers involved in either maize, rice or wheat farming through 563 (five hundred and sixty-three only) 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
agro-businesses.
“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.
“Also aware that funds advanced to end users of the Federal Government interventions were allegedly
misused, misapplied and channeled to non-farming and non-agricultural purposes, hence the current
acute scarcity of food
“Worried that the agricultural sector plays a crucial role in ensuring food security, improving nutrition,
and supporting the livelihoods of millions of Nigerians and any abuse of the programs and schemes of
The government drastically affects millions of innocent citizens.
“The need to investigate government agricultural interventions and funding allocated to Departments, Agencies, Schemes and Programs outside the Federal Ministry of Agriculture and Food
Security to ensure transparency, accountability, and effective resource utilization.
The Committee are therefore expected to report back to the House within four legislative weeks for further legislative actions.
[Vanguard]
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