By Gloria Ikibah
The House of Representatives has commenced investigations on the alleged mismanagement of funds meant for agricultural development by government agencies outside the Federal Ministry of Agriculture.
Declaring open the inestigation, Chairman Committee on Nutrition and Food Security, Rep.Chike Okafor, said the hearing was to uncover the truth and ensure accountability in the use of public funds.
Rep. Okafor noted that despite trillions of naira reportedly spent on agriculture over the years, Nigeria still battles food shortages, hunger, and high food prices.
“This hearing is not a witch-hunt. Our purpose is not to target individuals or institutions but to uncover the truth, identify systemic failures, and ensure that public funds allocated for agricultural development are utilized transparently and effectively.
“If these funds had been judiciously spent, we would not be facing the current crisis where millions of Nigerians struggle to afford basic meals,” he said.
The probe, according to the Chairman, follows a motion passed by the House titled “Alleged Mismanagement of Government Agricultural Initiatives and Funding by Departments, Agencies, and Government Programs Outside the Federal Ministry of Agriculture and Food Security”.
He listed key institutions under scrutiny, including the Central Bank of Nigeria (CBN), Nigeria Incentive-Based Risk Sharing for Agricultural Lending (NIRSAL), Bank of Industry (BOI), Bank of Agriculture (BOA), and the National Agricultural Development Fund, among others.
Some of the figures raised by the committee include:
– ₦1.12 trillion disbursed to over 4.6 million farmers through CBN’s Anchor Borrowers Programme (ABP),
– ₦215 billion disbursed by NIRSAL to support agriculture and agribusinesses,
– ₦3 billion given to 22,120 smallholder farmers by BOI,
– ₦59.4 billion in loans for agro and food processing businesses,
– ₦5 billion livestock loan facility to BOA in 2023,
– ₦1.6 billion recovery fund released in 2024 by the National Agricultural Development Fund to fight ginger blight disease.
Rep. Okafor explained that the Committee is empowered by the House rules to investigate how these funds were allocated and used, and determine if they truly made an impact.
He demanded foe detailed information from the agencies covering the period between 2017 and 2024, including lists of beneficiaries, addresses, project locations, loan terms, recovery plans, and collaboration with donor partners.
“The Nigerian people deserve to know how their resources are being used, and this Committee is committed to ensuring that every kobo allocated to agriculture serves its intended purpose,” he said.
He also acknowledged that the Bank of Agriculture recently appointed a new Managing Director and confirmed that a letter to that effect has been received by the Committee.
The Chairman therefore urged all agency representatives to be open and sincere in their presentations, and charged the media and civil society to play their part in holding government accountable.
“The goal is not to antagonize but to collaborate in finding solutions. Where there are gaps, let us address them. Where there are inefficiencies, let us correct them. And where there are infractions, let us take necessary actions to prevent recurrence.
“With that, I declare this investigative public hearing open. I look forward to a robust, insightful, and solution-driven deliberation,” he stated.
Governor of Central Bank of Nigeria CBN, Olayemi Cardoso, represented by Mr Kwasari John Harman, an acting director in CBN said the Apex bank disbursed N1.21 trillions and N871 billion among others
He said that all commercial banks in the country received funds from the federal government on the Anchor Borrowers Scheme of the previous administration.