10/08/2023
Some associations in the Agricultural sector have asked President Bola Tinubu to ensure that the N100 billion agriculture fund is disbursed through the Central Bank of Nigeria (CBN) to avoid bottlenecks in accessing the funds.
The National Agricultural Commodities Projects (NACP) and Strategic Alliance of Presidents of Agricultural Commodity Associations of Nigeria (SAPACAN) made the call on Wednesday.
The News Agency of Nigeria (NAN) reports the President of Maize Farmers Association of Nigeria, Dr Bello Abubakar, said this while addressing newsmen in Abuja.
He appealed that the President should approve 70 per cent of the fund to be disbursed as grants, while 30 per cent of it to be disbursed as loans respectively
He suggested the setting up of an implementation committee, and its membership to include the National Presidents of the four priority commodities.
He said the committee’s task would be to immediately design the strategy that would help to mop the unsold produce in the rural areas and turn them into local food derivatives.
“The N100 billion fund should be 70% Grant and 30% Loan and the PFIs through the CBN not like previous program create unnecessary bottlenecks that will hinder easy accessing of the fund timely.
“We urge the government to ensure smooth and effective implementation of the measures and regularly engage the citizens and the organized private sector to ensure accountability.
“There should be proper monitoring and evaluation of the implementation process to ensure benefits to the people. Appropriate reprimands and sanctions should be applied for glaring infractions and wilful sabotage,” Dr Bello said.
The Associations, however, advised the government that in the short term, they should mop up Cassava, Rice, Maize and Wheat for food and animal feeds.
