In a recent tweet, former Nigerian Senator Shehu Sani has sharply criticized the Anchor Borrowers Program (ABP), a significant agricultural initiative under scrutiny by the House of Representatives. Sani's tweet highlights the House's ongoing investigation into the alleged disappearance of 2 trillion Naira earmarked for the program, a cornerstone of Nigeria's agricultural policy aimed at boosting domestic rice production.
"The 2 trillion Naira spent on Anchor Borrowers, now probed by the House of Reps, led us to Rice pyramids that disappeared within the twinkle of an eye," Sani tweeted. His statement emphasizes widespread concerns about the transparency and effectiveness of the ABP, which was intended to enhance food security and reduce import dependency by empowering smallholder farmers.
The ABP, launched in 2015 by the Central Bank of Nigeria (CBN), aimed to provide loans to farmers to increase rice and other staple crops' production. In an effort to showcase its success, the program frequently displayed massive rice pyramids, symbolizing Nigeria's burgeoning self-sufficiency. However, Sani's comments reflect growing skepticism, with many questioning the whereabouts and actual impact of these celebrated outputs.
The House of Representatives' probe into the ABP is a response to these concerns. Lawmakers are examining the management of funds allocated to the program and the tangible results of these expenditures. Reports of mismanagement and corruption have plagued the initiative, prompting calls for greater accountability and oversight.
Sani's critique is significant, given his role as a vocal advocate for transparency and good governance. His statement aligns with broader public sentiment demanding answers on how such a substantial amount of money could yield results that seem to have vanished so quickly.