Having recorded less than 36% performance and accessibility in the last three years of establishment, the Federal Government and Central Bank of Nigeria are making frantic moves to ditch Micro, Small and Medium-scale Enterprises credit scheme and divert its allocation to finance Agriculture in 2017 and beyond.
It will be recalled that the Central Bank of Nigeria with the directive of Federal Government established in 2013 Micro, Small and Medium-scale Enterprises scheme with N220 billion set aside to provide much-needed capital for the sub-sector of the nation’s economy.
But, Federal Government and Central Bank of Nigeria seemed to have made a U-turn since the scheme is not fully serving the purpose for which it was launched and moves were being made channel the fund towards Agriculture, thereby, boosting investment in entire Agriculture value chain in 2017 and beyond.
Speaking during tours made to several farm settlements across Ogun state on Tuesday, Godwin Emefiele, Governor, Central Bank of Nigeria (CBN) disclosed that the MSMEs fund and other available funds would be channelled towards massive Agriculture and agro-allied investment across the country, having received directive from President Muhammadu Buhari.
Emefiele, who was in company of Audu Ogbeh, Minister of Agriculture and Rural Development; Governor Abubakar Bagudu of Kebbi state and Chairman, Presidential Task Force on Agricultural Commodity and Production as well as Governor Ibikunle Amosun of Ogun state, asked, “Why am I here in Ogun?
He answered, “We should be able to put in place more funds to support agricultural production of this country. The Federal Ministry of Agriculture is also working towards ensuring that Bank of Agriculture is properly restructured so that they can perform the responsibility they have been given by law.
“Basically, there is no other place to run to, but going back to the farm. We are going back to Mr President and then improve the Agricultural potentials of this country. The truth is this, we have under our Commercial Agriculture Credit Scheme, more than N250 billion which has not been fully disbursed.
“We were also at the farm at Eriwe (Ogun state) where we also talked about our Micro, Small and Medium-scale Enterprises loan scheme, it is about N220bn and just about N80bn of it is utilised. We are going to see to how small-holder farmers can benefit from our Anchor Borrower Programme through the Micro, Small and Medium-scale Enterprises for the states.
“When we find a state that is serious and ready to work with us, we will bust the Commercial Agriculture Credit Scheme that we have because the President has mandated, those who are serious, we should help them, that is the essence of it.”
Audu Ogbeh, Minister of Agriculture and Rural Development corroborated the statement of Central Bank of Nigeria Governor on Federal Government’s policy on massive investment in Agriculture and agro-allied development, saying: “Agriculture is important for you, younger people.
“The future is yours, not mine. If you don’t feed yourselves, you will die of hunger and migrating to Europe isn’t the answer. The conditions there are worse. Many Nigerians who go to Brazil, China end up in prisons. Not long ago, a Nigerian was killed on the streets of New Delhi for pushing a wheelbarrow. They said he was taking their job.
“We can grow the fishes, maize, caFG, CBN move to divert N220bn MSMEs fund to finance Agriculture in 2017
…begin complete restructure of Bank of Agriculture
RAZAQ AYINLA, Abeokuta
Having recorded less than 36% performance and accessibility in the last three years of establishment, the Federal Government and Central Bank of Nigeria are making frantic moves to ditch Micro, Small and Medium-scale Enterprises credit scheme and divert its allocation to finance Agriculture in 2017 and beyond.
It will be recalled that the Central Bank of Nigeria with the directive of Federal Government established in 2013 Micro, Small and Medium-scale Enterprises scheme with N220 billion set aside to provide much-needed capital for the sub-sector of the nation’s economy.
But, Federal Government and Central Bank of Nigeria seemed to have made a U-turn since the scheme is not fully serving the purpose for which it was launched and moves were being made channel the fund towards Agriculture, thereby, boosting investment in entire Agriculture value chain in 2017 and beyond.
Speaking during tours made to several farm settlements across Ogun state on Tuesday, Godwin Emefiele, Governor, Central Bank of Nigeria (CBN) disclosed that the MSMEs fund and other available funds would be channelled towards massive Agriculture and agro-allied investment across the country, having received directive from President Muhammadu Buhari.
Emefiele, who was in company of Audu Ogbeh, Minister of Agriculture and Rural Development; Governor Abubakar Bagudu of Kebbi state and Chairman, Presidential Task Force on Agricultural Commodity and Production as well as Governor Ibikunle Amosun of Ogun state, asked, “Why am I here in Ogun?
He answered, “We should be able to put in place more funds to support agricultural production of this country. The Federal Ministry of Agriculture is also working towards ensuring that Bank of Agriculture is properly restructured so that they can perform the responsibility they have been given by law.
“Basically, there is no other place to run to, but going back to the farm. We are going back to Mr President and then improve the Agricultural potentials of this country. The truth is this, we have under our Commercial Agriculture Credit Scheme, more than N250 billion which has not been fully disbursed.
“We were also at the farm at Eriwe (Ogun state) where we also talked about our Micro, Small and Medium-scale Enterprises loan scheme, it is about N220bn and just about N80bn of it is utilised. We are going to see to how small-holder farmers can benefit from our Anchor Borrower Programme through the Micro, Small and Medium-scale Enterprises for the states.
“When we find a state that is serious and ready to work with us, we will bust the Commercial Agriculture Credit Scheme that we have because the President has mandated, those who are serious, we should help them, that is the essence of it.”
Audu Ogbeh, Minister of Agriculture and Rural Development corroborated the statement of Central Bank of Nigeria Governor on Federal Government’s policy on massive investment in Agriculture and agro-allied development, saying: “Agriculture is important for you, younger people.
“The future is yours, not mine. If you don’t feed yourselves, you will die of hunger and migrating to Europe isn’t the answer. The conditions there are worse. Many Nigerians who go to Brazil, China end up in prisons. Not long ago, a Nigerian was killed on the streets of New Delhi for pushing a wheelbarrow. They said he was taking their job.
“We can grow the fishes, maize, cattle, chicken. We can export to every corner of the earth simply by organizing ourselves.That’s why we are here. That’s what the Governor (Ibikunle Amosun) is doing. The CBN governor, Godwin Emefiele is here. Kebbi state governor, Abubakar Bagudu is here. We travel around like this.
“The Federal Government has no farm. There is no farm where the Minister can go. The farms are in the states and the states belong to the farmers who are doing the real work. I can assure that there is only one way for economic recovery, it’s agriculture, agriculture and agriculture and anything else can follow.
“We are collecting data. Next year’s budget is a bit more sizeable than before. You will see evidence around here (Farm settlements and establishments in Ogun State) very soon.”
But, Governor Abubakar Bagudu of Kebbi state, who also the Chairman of the Presidential Task Force on Agricultural Commodity and Production, said that all Nigerian states were ready to fully explore Federal Government’s policy on Agriculture to better the economy, just as Governor Ibikunle Amosun insisted that Ogun state would use Agriculture to create wealth and employments. ttle, chicken. We can export to every corner of the earth simply by organizing ourselves.That’s why we are here. That’s what the Governor (Ibikunle Amosun) is doing. The CBN governor, Godwin Emefiele is here. Kebbi state governor, Abubakar Bagudu is here. We travel around like this.
“The Federal Government has no farm. There is no farm where the Minister can go. The farms are in the states and the states belong to the farmers who are doing the real work. I can assure that there is only one way for economic recovery, it’s agriculture, agriculture and agriculture and anything else can follow.
“We are collecting data. Next year’s budget is a bit more sizeable than before. You will see evidence around here (Farm settlements and establishments in Ogun State) very soon.”
But, Governor Abubakar Bagudu of Kebbi state, who also the Chairman of the Presidential Task Force on Agricultural Commodity and Production, said that all Nigerian states were ready to fully explore Federal Government’s policy on Agriculture to better the economy, just as Governor Ibikunle Amosun insisted that Ogun state would use Agriculture to create wealth and employments.
