Anchor Borrowers: Farmers recount how interventions solved Nigeria’s food security problems

By Nneka Nwogwugwu

Following the interventions of the Anchor Borrowers Programme under the Central Bank of Nigeria (CBN), smallholder farmers have hailed series of intervention schemes by the CBN to support farmers.

Through various schemes, the farmers have cultivated 4.9 million hectares of land across the country under its Anchor Borrowers’ Programme (ABP) of the apex bank.

The interventions have been responsible for the food security being currently enjoyed in the country, the farmers stated.

They said that if such financial support valued at N798.09 billion to 3.9 million smallholder farmers had not been made available, food crisis and inflation would have become worse as supply became low and prices rose in the last few months.

A smallholder and beneficiary of the recent CBN financial support from Oyo State, Akinbowale Makanjuola, commended the CBN governor, Mr. Godwin Emefiele, for the efforts towards reviving agriculture and enhancing economic growth.

A rice farmer in Ofada, Ogun State, John Olawale, while commending the CBN and describing its Anchor Borrowers’ Programme (ABP) as very good and beneficial to many farmers, said the programme has assisted in stemming illegal importation of food and has given incentive to local farmers to operate optimally while ensuring national food security.

Olawale said the ABP is a good effort by the government to protect local farmers by banning the importation of food items that the local farmers have a comparative advantage in production.

A former president of the All Farmers Association of Nigeria (AFAN), Mr Ibrahim Kabir, explained that ‘‘The CBN intervention has surely helped the food system and without it, the situation would have been more uncomfortable.’’

It would, however, he said, be more impactful if the apex bank could reach more farmers, especially through AFAN, rather than directly through the commodity.

Source: Greenb reporters