The House of Representatives has taken a significant step towards ensuring transparency and accountability in the management of federal government interventions and agricultural funding. The House has mandated its committees on Nutrition and Food Security, Agricultural Production, and Finance to conduct a thorough investigation into the alleged misuse of funds by the Central Bank, NIRSAL, Bank of Industry, and other agencies.
This decision follows a motion sponsored by Rep. Rt. Hon. Deacon Chike Okafor , representing Ehime Mbano/Ihitte Uboma/Obowo Federal Constituency of Imo State, which alleges mismanagement of government agricultural initiatives and funding by departments and agencies outside the Federal Ministry of Agriculture and Food Security.
The motion highlights the urgent need for an investigation into the disbursement of funds meant for the agricultural sector, which plays a crucial role in ensuring food security, improving nutrition, and supporting the livelihoods of millions of Nigerians. The investigation will focus on the Central Bank’s Anchor Borrowers Program, which aimed to disburse ₦1.12 trillion to 4.67 million farmers involved in maize, rice, or wheat farming through 563 anchors.
The Committees will also investigate NIRSAL’s disbursement of ₦215,066,980,274.52 to facilitate agriculture and agribusinesses, as well as the Bank of Industry’s Agriculture Value Chain Financing Programme, which disbursed ₦3 billion to 22,120 smallholder farmers.
Furthermore, the Committees will assess the handling of the ₦5 billion loan facility to the Bank of Agriculture for livestock farmers across the country and the management of the National Agricultural Development ₦1.6 billion Recovery Fund for the Ginger Blight Epidemics Central Taskforce. These initiatives aim to promote agricultural development, improve food security, and support the livelihoods of millions of Nigerians.
Imo Federal Rep Member Okafor emphasised the importance of investigating the disbursement of funds meant for the agricultural sector, highlighting the growing food scarcity and malnutrition in Nigeria. Despite expending two trillion Naira in eight years on various schemes and interventions, the country still faces food scarcity and malnutrition due to alleged abuse and mismanagement of funds. The motion calls for an investigation into the disbursement of funds meant for the agricultural sector, which is crucial for food security, nutrition, and supporting millions of Nigerians’ livelihoods.
Any abuse of government programs drastically affects innocent citizens, emphasising the need for a thorough investigation. The Committees have four weeks to report back to the House, and their findings will hopefully shed light on the alleged mismanagement and misapplication of funds. The investigation’s outcome will hopefully lead to improvements in the management of agricultural funds and initiatives, ultimately addressing food scarcity and malnutrition in Nigeria.
The House’s decision demonstrates its commitment to ensuring transparency and accountability in government programs and initiatives. By investigating the alleged misuse of agricultural funding, the House aims to promote food security, improve nutrition, and support the livelihoods of millions of Nigerians. The investigation will also help to identify areas of improvement in the management of agricultural funds and initiatives, ensuring that the country achieves its goal of food self-sufficiency.
The alleged mismanagement of agricultural funds is a serious concern that requires immediate attention. The investigation will help to uncover any instances of corruption, misapplication of funds, or abuse of government programs. The Committees will also assess the impact of these alleged abuses on the agricultural sector and the livelihoods of millions of Nigerians.
The investigation is also a crucial step towards ensuring that government programs and initiatives are effective in promoting agricultural development, food security, and nutrition. The House’s decision demonstrates its commitment to transparency and accountability, and its willingness to take bold steps to address the challenges facing the country.
Moving on, the outcome of the investigation will have significant implications for the agricultural sector and the country as a whole. It will help to identify areas of improvement in the management of agricultural funds and initiatives, and ensure that government programs are effective in promoting food security, nutrition, and supporting the livelihoods of millions of Nigerians.
The investigation will also help to restore public trust in government programs and initiatives, and demonstrate the House’s commitment to transparency and accountability. The Committees’ findings will provide valuable insights into the management of agricultural funds and initiatives, and help to ensure that the country achieves its goal of food self-sufficiency.
