Business
Practical Approach Needed To Dev Agric In Nigeria – AFAN
All Farmers Association of Nigeria (AFAN) Coordinator in Auchi, Edo, Alhaji Abdulahi Mohammed, is advocating a practical approach to agriculture development in the country as the only way to revamp the sector.
Abdulahi, in an interview with newsmen in Auchi on Sunday, condemned the attitude of states and local governments in the country towards agriculture.
“What they do only amounts to lip service. Some of the policies being introduced by the Federal Government to boost the sector are bound to fail, even before implementation, unless pragmatic measures are taken.
“Specifically, the Growth Enhancement Support Service, one of the new initiatives, is too cumbersome and confusing to the real farmers, who are mostly illiterate.”
Abdulahi stated that about 60 per cent of “real” farmers in Edo would be denied access to farm inputs and implements because they had no idea of the processes under the scheme.
Besides, he said, the processes required completion of many forms and submission of documents, noting that most farmers in the state could not contend with such demands on them.
The coordinator said that farmers perceived the difficult processes as a ploy by the government to deny certain category of people among them access to available credits and materials.
“Most farmers refused to register as they termed the scheme another government gimmick. They are tired of filling forms and not getting anything at the end.
“Even, the forms of most farmers who managed to register were returned as not properly completed and this is because most of them are illiterate, who do not know the difference between acres and hectares.’’
Abdullahi, therefore, urged the government to adopt a practical approach to the development of the agriculture sector.
According to him, governments in the country should deploy an agriculture expert to every ward in each local government across the country as supervisor for all agricultural programmes in that area.
“The supervisor will monitor all farmers in his ward and by so doing, be abreast with their needs and problems. Anything government needs to get across to the farmers will be through the supervisor.”
Edun made the call while speaking at the 2025 Fellowship Investiture of the Chartered Institute of Bankers of Nigeria (CIBN) in Lagos, where he reaffirmed the federal government’s commitment to sustaining ongoing reforms and expanding access to finance as key drivers of economic growth beyond four per cent.
“We all know that monetary policy under Cardoso has stabilised the financial system in a most commendable way. Of course, it is a team effort, and those eye-watering interest rates have to be paid by the fiscal side. But the fight against inflation is one we all have to participate in,” he said.
The minister stressed the need for banks to broaden credit access and finance innovation-driven enterprises that can create jobs for young Nigerians.
“The finance and banking industry has more work to do because we must finance their ideas, deepen the capital and credit markets down to SMEs. They should not have to go to Silicon Valley,” he said.
The minister who described the private sector as the engine of growth, said the government’s reform agenda aims to create an enabling environment where businesses can thrive, access funding, and contribute meaningfully to job creation.
The facility, known as the Nigeria Actions for Investment and Jobs Acceleration (P512892), is a Development Policy Financing (DPF) operation scheduled for World Bank Board consideration on December 16, 2025.
According to the Bank’s concept note , the financing would comprise $500m in International Development Association (IDA) credit and $500m in International Bank for Reconstruction and Development (IBRD) loan.
If approved, it would be the second-largest single loan Nigeria has received from the World Bank under President Bola Tinubu’s administration, following the $1.5 billion facility granted in June 2024 under the Reforms for Economic Stabilisation to Enable Transformation (RESET) initiative.
The World Bank said the new programme aims to support Nigeria’s shift from short-term macroeconomic stabilisation to sustainable, private sector–led growth.
“The proposed Development Policy Financing (DPF) supports Nigeria’s pivot from stabilization to inclusive growth and job creation. Structured as a two-tranche standalone operation of US$1.0 billion (US$500 million IDA credit and US$500 million IBRD loan), it seeks to catalyse private sector–led investment by expanding access to credit, deepening capital markets and digital services, easing inflationary pressures, and promoting export diversification,” the document read.
The document further stated that Nigeria’s private sector credit-to-GDP ratio stood at only 21.3 per cent in 2024, significantly below that of emerging-market peers, while capital markets remain shallow, with sovereign securities dominating the bond market.
To address these weaknesses, the DPF will support the implementation of the Investment and Securities Act 2025, operationalisation of credit-enhancement facilities, and introduction of a comprehensive Central Bank of Nigeria rulebook to strengthen risk-based regulation and consumer protection.
The operation also includes measures to deepen digital inclusion through the passage of the National Digital Economy and E-Governance Bill 2025, which will establish a legal framework for electronic transactions, authentication services, and digital records.
Beyond the financial and digital sectors, the programme targets reforms to lower production and living costs by tackling Nigeria’s restrictive trade regime. High tariffs and import bans have long driven up consumer prices and constrained competitiveness, particularly for manufacturers and farmers.
Under the proposed reforms, Nigeria would adopt AfCFTA tariff concessions, rationalise import restrictions, and simplify agricultural seed certification to increase the supply of high-quality varieties for maize, rice, and soybeans. The World Bank projects that these measures will help reduce food inflation, attract private investment, and enhance export potential.
The operation is part of a broader World Bank FY26 package that includes three complementary projects—Fostering Inclusive Finance for MSMEs (FINCLUDE), Building Resilient Digital Infrastructure for Growth (BRIDGE), and Nigeria Sustainable Agricultural Value-Chains for Growth (AGROW)—all focused on expanding access to finance, strengthening institutions, and mobilising private capital.