Governor of the Central Bank of Nigeria, Yemi Cardoso, last week handed over 2.15 million tonnes of fertilisers worth N100 billion to the Minister of Agriculture and Food Security, Abubakar Kyari.
He said it was the Bank’s contribution to the Federal Government’s effort to drastically reduce the current unbearable cost of food. He said government’s plan was to alleviate the hunger pandemic sustainably as from the third quarter of 2024.
CBN is no stranger to heavy involvement in facilitating the agricultural sector, a form of benign dabbling into the fiscal responsibilities of the Federal Government. The Bank under embattled Godwin Emefiele, launched the Anchor Borrowers Programme, ABP, for the production of major food staples, especially rice. The programme initially enjoyed rave public approval, as it was adopted beyond the pilot state, Kebbi.
Later on, however, the ABP was embroiled in the usual corruption and unhealthy politics culminating in the scandalous “Abuja Rice Pyramids” affair. The ABP helped Nigeria to get closer to self-sufficiency in rice production, which encouraged former President Muhammadu Buhari to close our borders to support local producers.
It would appear that the Cardoso administration in the CBN is distancing itself from continuation of the ABP. Instead, it explained that the donated fertilisers were part of the remnants of its stock which were blended under its previous interventions in the agricultural sector.
Coming at the outset of this year’s farming season, we commend the CBN for its patriotic gesture. We believe that a massive return to the farms by Nigerians is the only way we can save ourselves from the creeping famine looming in the horizon.
However, donating this huge amount of fertiliser is only the easy part of the drive to end the hunger. Strong efforts must be made to see that these fertilisers are delivered to the farmers who need them. Usually, this kind of government “windfall” triggers racketeering.
The CBN and the Ministry should set up a joint committee to monitor the distribution of the critical input to minimise racketeering and profiteering. Dumping N100 billion worth of fertilisers on the lap of the Ministry and just walking away may raise issues bordering on lack of regard for accountability.
We also hope the fertiliser will not be wasted due to the continued occupation of vast areas of the country’s arable lands by armed criminals. There is hardly any farming that can be done unless these outlaws are flushed out. It has become obvious that our military alone cannot secure our country in good enough time for us to put the fertilisers to use.
The Federal Government should deepen its collaboration with the state governors to mobilise community-level partnerships to enable the military finish the job they have been doing so gallantly.
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