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Food Surplus: Obasanjo tasks FG on single digit loan for farmers in Nigeria

By Our Correspondent

Former President Olusegun Obasanjo has urged the Federal Government to prioritize good security by offer single- digit interest loans to farmers.

He made the suggestion at the recently concluded Agriconnect Summit 2024, held at the Landmark Event Center, Victoria Island, Lagos.

Chief Obasanjo chaired the summit, themed “Bridging the Divide: Fostering Collaboration and Innovation for a Sustainable Agricultural Future,” underscored the urgent need for concerted efforts to address the challenges facing the agricultural industry and to unlock its full potential.

In addition, the Group Managing Director Amo Farm Sieberer Hatchery Limited, Dr. Ayoola Oduntan, also advocated the need for policy coherence to enhance market access and build resilient food system in the country.

During a panel discussion titled “From Farm to Table: Enhancing Market Access and Building Resilient Food Systems,” Dr. Oduntan addressed the challenge of inconsistent government policies hindering the advancement of agribusiness in Nigeria.

He highlighted the perpetual cycle of new policies introduced by different ministers of agriculture without adequate consideration for the continuity of previous initiatives.

“We have all the right ideas to take the agribusiness to where it should be but a major challenge has been the implementation of policies. In my over 30 years of experience in the agricultural sector, I have witnessed numerous policy shifts with each new Minister of Agriculture. This inconsistency hampers the progress of our agribusiness,” Dr. Oduntan remarked.

Proposing a solution to this, he stressed the necessity for a central coordinating agency to ensure policy coherence, allocate resources, and facilitate effective implementation.

“We need a central coordinating agency to provide direction, allocate resources, and ensure the sustained implementation of agricultural policies.”

However, Obasanjo, who chaired the summit said: “Any country that offers more than a single-digit loan to people in agribusiness is not helping farmers. He

We must recognize food as a national security need and provide the necessary financial support to farmers,” he emphasized.


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