A former special assistant on digital communications to the late President Muhammadu Buhari, Bashir Ahmad, has revealed that many intervention programmes aimed at supporting farmers during the last administration were severely mismanaged and exploited by beneficiaries.
Ahmad made this disclosure while reacting to public criticism of the federal government’s plan to issue food import waivers as a short term measure to curb rising food prices instead of subsidise fertilisers, fuel, and provide modern farming equipment to local farmers.
Ahmad elucidated that similar interventions had previously been implemented under the Buhari administration, notably through initiatives such as the Anchor Borrowers’ Programme, ABP, he noted that these efforts were largely compromised by pervasive corruption and misuse of allocated funds.
Launched in 2015, the ABP was designed to establish connections between small holder farmers and anchor companies, with the objective of enhancing domestic food production.
By 2023, the Central Bank of Nigeria, CBN reported the disbursement of a substantial ₦1.09 trillion through this program, he contended that a significant number of beneficiaries reportedly diverted these funds into non agricultural ventures, undermining the program’s intended impact.
Ahmed said, “Billions of Naira were allocated to farmers with the goals of achieving food security, reducing poverty, and curbing unemployment and insecurity.
“Some farmers received loans running into billions, some even up to ₦6 billion, but instead of investing in agriculture, many diverted the funds to other sectors like oil and gas, bureau de change, and other luxury ventures.
“Those who actually farmed? After harvesting, they hoarded their produce, waiting for prices to spike so they could make exaggerated profits, at the expense of the same masses the initiative was meant to support.”
In 2023, the International Monetary Fund, IMF reported that only 24 percent of ABP loans had been repaid. The CBN, however, countered that the actual repayment rate stood at 52 percent.
He disclosed that the controversial border closure policy under Buhari, which was aimed at reducing food imports and encouraging local production. While acknowledging the heavy criticism it attracted, he insisted the policy had produced positive results.
He stated, “The policy was misunderstood and widely attacked even when the signs of success were evident. Rice importation dropped, and many Nigerians were pulled out of extreme poverty.
“They didn’t help stabilize food prices. Instead, they formed cartels, manipulated supply and created artificial scarcity to make outrageous profits,” he said, adding that many are now under investigation by the Economic and Financial Crimes Commission, EFCC.
“It shouldn’t be the go-to option, but it has become the only immediate relief available to reduce hunger and suffering in the short term.
“The long term solution still lies in reviving and properly monitoring agricultural interventions, but for now, the people need to feed, first.”
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