Business
Adamawa Farmers Charge Govt On Agric Inputs
Some farmers in Adamawa have appealed to the state government to provide them with fertilisers, pesticides and improved seeds to enable them engage in commercial farming.
A cross section of the farmers told newsmen in Yola that they had yet to receive the farming inputs the state government said it had given farmers.
During the first All Nigerian Farmers meeting held recently in Yola, by Governor Murtala Nyako said the government had made “giant stride’’ to achieve its food security programme.
He said that rural farmers had been provided with the necessary training and agricultural inputs to actualise their dreams to go into commercial farming.
But one of the farmers, Malam Hamidu Chigari, from Gurin ward in Fufore local government area, described the governor’s assertion as “political talk’’.
“ Last year, our farms were devastated by locust, some government officials from Yola and Abuja visited us and promised us emergency assistance, but up till this moment we are yet to receive the assistance,’’ he said.
He said the only way farmers could access agricultural inputs such as fertilisers, pesticides and high breed seed was through the local markets and private agricultural suppliers who sold them at exorbitant prices.
Mr Yohanna Pwal, a farmer from Demsa local government area, said the agricultural inputs supplied by government to farmers were insufficient.
He said that he would need not less than six to seven bags of fertilisers for this year’s farming season.
“Four of us were given one bag of fertiliser to share, which is inadequate for a farmer like me,’’ he said.
He urged the governor to hand over distribution of agricultural inputs to farmers’ cooperatives and organisations who, he said, know the real farmers.
Credit to Nigeria’s private sector rose to N83.26 trillion in June 2026 from N81.04 trillion in May, signifying a positive balance of N2.22 trillion month-on-month.
Year-on-year, the figure represents a nine per cent increase compared with the N76.13 trillion recorded in June 2025. The latest figures come as the CBN continues to balance efforts to control inflation with the need to support economic growth and expand credit to businesses.
The CBN data shows that credit to Nigeria’s private sector increased by approximately 2.74 per cent month-on-month between May and June 2026. Also, the CBN data noted that credit to the government fell slightly to N40.03 trillion from N40.38 trillion. Other assets, net, dropped to N10.76 trillion from N12.63 trillion.
The credit surge signifies sustained growth in lending to businesses and other private-sector borrowers during the month. The rise in private sector credit was recorded alongside an increase in net domestic credit, despite declines in credit to government and other assets.
Further analysis of the report says that compared with June 2025, private sector credit rose by about N7.13 trillion yea-on-year but net domestic credit increased by approximately N1.87 trillion during the month.
The CBN’s relatively tight monetary policy stance notwithstanding, more banks still loaded funds to the private sector within the period. The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) held its 306th meeting on July 20 and 21.
The Committee reviewed recent developments in the global and domestic economies, assessed emerging risks to the outlook and considered their implications for monetary policy and retained all rates.
The Committee decided to retain the Monetary Policy Rate at 26.5 per cent; the Standing Facilities Corridor around the MPR at +50/-450 basis points and retain the Cash Reserve Requirement (CRR) for Deposit Money Banks at 45.00 per cent, Merchant Banks at 16.00 per cent, and non-TSA public sector deposits at 75.00 per cent.
The MPC decision means that credit extension in the private sector will likely continue to rise because of rising confidence in the sector and calls by stakeholders for banks to invest in the private scetor instead of government securities.
