Explosive Investigation: House Targets ₦2 Trillion Spent During Buhari’s Tenure On Agriculture!

This decision followed the adoption of a motion sponsored by Representative Chike Okafor, who raised concerns about the escalating food scarcity and malnutrition in Nigeria amid alleged mismanagement of agricultural funds.

During Tuesday’s plenary, Okafor, representing Ehime Mbano/Ihitte Uboma/Obowo Federal Constituency in Imo State, emphasized the critical role of agricultural funds in the sector’s development.

The motion, titled “Alleged mismanagement of government’s agricultural initiatives and funding by Departments, Agencies, and Government programmes outside the Federal Ministry of Agriculture and Food Security,” highlighted the misuse of these funds.

Okafor stated, “The House notes that the Federal Government, through various schemes and interventions over the last eight years, has spent over ₦2 trillion on agricultural interventions to make food available for millions of Nigerians. However, due to alleged mismanagement and abuse of these programs, Nigeria still faces food scarcity and malnutrition.”

He further elaborated on the disbursement of funds: “The House is aware of reports and allegations of abuse and misapplication of government intervention funds for agricultural development and food security. The Central Bank of Nigeria disbursed about ₦1.12 trillion to 4.67 million farmers growing maize, rice, or wheat through 563 anchors. The Nigeria Incentive-Based Risk Sharing System for Agricultural Lending disbursed ₦215.067 billion to facilitate agriculture and agribusinesses. The Bank of Industry disbursed ₦3 billion to 22,120 smallholder farmers through the Agriculture Value Chain Financing Programme and funded 49 agro and food processing businesses with ₦59.4 billion in loans.”

In 2023, the Federal Government unveiled a ₦5 billion loan facility to the Bank of Agriculture for livestock farmers across the country.

“The House is also aware that funds advanced to end users of Federal Government interventions were allegedly misused and redirected to non-farming and non-agricultural purposes, contributing to the current acute food scarcity,” Okafor added.

Recognizing the need for transparency and accountability, the lawmakers directed the joint committees on Nutrition and Food Security, Agricultural Production and Services, Agricultural Colleges and Institutions, and Finance to thoroughly investigate the alleged misuse of government interventions and agricultural funding. These committees are tasked with submitting a comprehensive report within four weeks, which will guide further legislative actions.