The Agriculture Promotion Policy (APP), the Anchor Borrower Programme initiated by the Central Bank of Nigeria (CBN), and the National Agricultural Technology and Innovation Policy (NATIP) had the potential to achieve food security in Nigeria if effectively implemented. The Buhari administration prioritized agriculture by introducing these policies, but their success was hindered by the lack of competent individuals to drive them, resulting in a wasteful expenditure of much-needed resources.
The APP was launched successfully in 2015, and the CBN introduced the commendable Anchor Borrower Programme with an initial allocation of 2.6 billion Naira to develop the rice and wheat value chains in Birnin Kebbi, Kebbi State. Initially, these initiatives were praised for their potential impact. However, they faced numerous challenges during implementation, largely due to the CBN's decision to involve individual commodity associations without engaging the Federal Ministry of Agriculture and Rural Development (FMARD), State Ministries of Agriculture, and the umbrella association of farmers (AFAN).
The CBN established Prime Anchors as a means to accelerate value chain development but ended up misallocating resources and failing to incentivize farmers effectively. Instead of providing soft loans to farmers to optimize production and guaranteeing a minimum price for their produce, the Prime Anchors resorted to buying from the open market, leading to unnecessary food inflation. The CBN intervention, particularly in the Rice and Maize Anchor Borrower Programme and agrochemical prices, likely contributed to the persistent food inflation in the country.
The so-called Prime Anchors devised a dubious method of diverting the substantial resources in their possession to import substandard inputs from China. These inputs were then distributed to resource-poor farmers through fraudulent events organized with the assistance of corrupt senior public officials and fake farmer leaders. It is necessary to reevaluate the CBN intervention and recall the billions of Naira given out as loans to the Prime Anchors.
To achieve food security, the FMARD should be repositioned to collaborate effectively with the 36 states, the Federal Capital Territory (FCT), genuine farmers, other relevant government agencies, donor agencies, and development partners. The National Food Reserve Agency (NFRA) should be revitalized, and institutions such as the National Agricultural Development Fund (NADF), National Agricultural Extension Policy (NEP), National Research Institutes, and Technology Incubation Centres should be established or strengthened to operate efficiently. The meticulous implementation of NATIP, in collaboration with all states and the FCT, is crucial for realizing food security.
Appointments in the agricultural sector should be based on merit, and those appointed should be closely monitored, regularly evaluated, and held accountable. The upcoming administration of President Bola Ahmed Tinubu must ensure value for money in all agricultural investments by closely overseeing program implementation, achieving set goals within specified timeframes, and promoting transparency and accountability.
These measures are essential for achieving food security in Nigeria, leading to a productive citizenry capable of fostering prosperity for the country and its people.
