The House of Representatives Committee on Nutrition and Food Security is probing alleged mismanagement of government’s agricultural funds and interventions by several federal agencies.
The Chike Okafor led House panel has however threatened to issue warrant of arrest on agencies over their absence at the on-going investigation.
The Committee is beaming it’s searchlight into the Anchor Borrowers Scheme and other policies of the federal government Agriculture Programmes .
The investigation is sequel to a resolution of the House, mandating the panel to scrutinize the disbursement of public funds across key institutions responsible for agricultural development.
These include the Central Bank of Nigeria (CBN), the Bank of Industry (BOI), the Bank of Agriculture (BOA), the Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL), and the National Agricultural Development Fund, among others.
Stressing the importance of the assignment, Okafor noted that despite allocation of trillions of naira to agricultural programs over the years, Nigeria continues to grapple with food insecurity, skyrocketing prices, and a rising tide of malnutrition. “If these funds had been appropriately utilized, we would not be facing a scenario where millions of Nigerians are unable to afford basic meals,” he added.
At the core of the investigation is an exhaustive review of several key financial interventions in the agricultural sector. Among the most prominent are the CBN’s disbursement of ₦1.12 trillion to 4.67 million farmers through the Anchor Borrowers Programme (ABP), NIRSAL’s allocation of ₦215 billion to support agriculture and agribusinesses, the BOI’s release of ₦3 billion to over 22,000 smallholder farmers, and its further disbursement of ₦59.4 billion to agro-processing ventures. Additionally, the Bank of Agriculture’s ₦5 billion loan facility for livestock farmers, unveiled in 2023, is also under scrutiny.
It is the duty of the Committee to scrutinize records, to ascertain the full extent of the funds disbursed, their distribution mechanisms, and whether the intended beneficiaries, smallholder farmers, agro-processors, and livestock entrepreneurs, actually received the support they were promised. Lawmakers are also demanding details on repayment terms, performance indicators, and the broader impact of these interventions on Nigeria’s food security goals.
Okafor reassured stakeholders and the public that the Committee’s approach would be one of collaboration rather than confrontation. “We are here today to work together, not to antagonize,” he stated. “This investigation is a unique opportunity to identify inefficiencies, address implementation gaps, and take corrective actions to ensure that public funds truly benefit the people.”
