Opinion
Of CBN’s Farmers’ Loan And Accessibility
The CBN Governor,
Godwin Emefule, has made public, the Central Bank of Nigeria (CBN) and commercial banks’ initiative to grant N300 billion loan to the agriculture sector in 2016. Good news! Isn’t it? His explanation suggests that the commercial banks are to use some of their liquidity to grant new loans to the agriculture sector and its value chains.
The bankers committee no doubt, has done this, to demonstrate their support to the efforts of the federal government to create employment and diversify the economy. However, all these support will be tantamount to effort in futility if the real farmers are not captured in the scheme. Portfolio and political farmers are known to always emerge from the blues whenever agricultural incentives are trumpeted, a reason for which many loan schemes had been traustrated as loans were never repaid because they were given to the wrong persons who never invested them.
Before the announcement of the release of the N300bn loan scheme by the Central Bank of Nigeria, Nigerian farmers have at various seasons and regimes, come to terms with exciting headlines and news highlights such as tax incentives for farmers, USDA grants for new farmers, grants for beginning farmers and ranchers, agricultural incentive programs etc.
While some farmers recount the testimony of how they were financially stabilised through these agricultural programs and incentives of different governments others would say they are mere channel administrators and their cohorts pass through to loot government’s treasury.
The differing views about government’s attitude towards the farmers does not contradict the fact that at various times in governance, there were programs and initiatives orchestrated by the governments, purportedly to assist local farmers break-even and contribute to the country’s gross national product, neither does it highlight the Nigerian farmers’ in gratitude towards governments’ efforts at alleviating their plight and sustainable development.
The intervention of the world government through the introduction of the eight (8) millennium development goals (MDGs), broken down into eighteen (18) quantifiable targets that are measured by forty-eight (48) indicators, is enough pointer to the fact that a responsible government is never at ease while its citizenry groan in abject poverty.
The millennium development goal (1) which is about the eradication of extreme poverty and hunger, is a goal that can primarily be met through agriculture. As the foremost of the basic human needs, this can only be actualised if all the actors work together and play well their parts.
Apart from being seen to be helping the farmer who is a major actor in the ‘play’, the burden of poverty alleviation and eradication of extreme hunger is quite enormous to be left in the care of the farmers alone. Meanwhile, the government would only be said to be playing its own role according to the script to ensure an eventual success of the entire initiative.
From drought, extreme heat to sea level rise and flood, the farmer, especially the small holder farmer is on the frontline of climate change which every increase in climate shocks drastically affect livelihoods and yields. In recent time, weather patterns are obviously becoming more and more unpredictable, the farmers must not be abandoned to his fate else he would be found walking and working against the wind.
To help farmers source for viable crops and adapt to climatic changes, interventionary measures must never be compromised, efforts of the International Fund for Agricultural Development (IFAD), Food Agricultural Development and Management Agency (FADAMA) and series of agricultural development programmes are yet to be felt by rural farmers in the South-South geo-political region of Nigeria courtesy of poor management that is not driven by the objective of the initiators of these programs.
The agricultural mileage in Nigeria is no longer evaluated on the basis of the number of intervention schemes so far flown, but on the impact so far made. The era of how far is gradually giving way to that of how well. Hence, of great importance is the interest placed on who manages what fund and initiative.
Again, it must be told that those who can meet up with bank’s requirements for agricultural loans in South-South geo-political region are only portfolio, political farmers and not the core farmers. While Emefule calls on all hands to be on deck to boost power and transportation so that banks would achieve the goals of improving the economy, the writer is of the view that corruption in the agricultural sector can also be checked by setting aside bogus and stringent requirements for securing loans and going to the farmer’s site to see what the farmer has on ground with a view to seeing how he can be helped and even monitored to ensure that he realizes what it takes to repay his loan.
If agriculture in Nigeria must be taken to the next level, then now is the time to visit the farmers farms and act accordingly and not cataloguing unattainable paper requirements that can hardly be decoded by the farmer.
Sylvia ThankGod-Amadi
Opinion
Betrayal: Vice Of Indelible Scar
The line that separates betrayal and corruption is very thin. Betrayal and corruption are two sides of the same coin. Like the snail and its shell they are almost inseparable. They go hand-in-globe. Betrayal and corruption are instinctive in humans and they are birthed by people with inordinate ambition – people without principles, without regard for ethical standards and values. Looking back to the days of Jesus Christ, one of his high profile disciples-the treasurer, was a betrayer. Judas Iscariot betrayed Jesus Christ for just 30 pieces of silver. One of the characteristics of betrayers is greed.
So, when on resumption from his imposed suspension, the Rivers State Governor, Sir Siminilayi Fubara threatened to bring permanent secretaries who were found complicit in “defrauding” the State during the days of Locust and Caterpillar regime, he did not only decry a loot of the Treasury but the emotional trauma of betrayal perpetrated by those who swore to uphold the ethics of the civil service. Governor Siminilayi Fubara had least expected that those who feigned loyalty to his administration would soon become co-travellers with an alien administration whose activities were repugnant to the “Rivers First” mantra of his administration. The saying that if you want to prove the genuineness of a person’s love and loyalty feign death, finds consummate expression in the Governor Fubara and some of the key members of the State engine room
Some of those who professed love for Governor Siminilayi Fubara and Rivers State could not resist the lure and enticement of office in the dark days of Rivers State, like Judas Iscariot. Rather, they chose to identify with the locusts and the caterpillars for their selfish interest. Julius Caesar did not die from the stab of Brutus but by his emotional attachment to him, hence he exclaimed in utter disappointment, “Even you Brutus”. The wound of betrayal never heals and the scar is indelible. Unfortunately, today, because of gross moral turpitude and declension in ethical standards and values, betrayal and corruption are celebrated and rewarded. Corruption, a bane of civil/public service is sublime in betrayal. The quest to get more at the expense of the people is the root of betrayal and sabotage.
This explains why Nigeria at 65 is the World’s capital of poverty.
Nigeria is not a poor country, yet, millions are living in hunger, abject poverty and avoidable misery. What an irony. Nigeria, one of Africa’s largest economies and most populous nation is naturally endowed with 44 mineral resources, found in 500 geographical locations in commercial quantity across the country. According to Nigeria’s former Minister for Mines and Steel Development, Olamiekan Adegbite, the mineral resources include: baryte, kaolin, gymsium, feldspar, limestone, coal, bitumen, lignite, uranium, gold, cassiterite, columbite, iron ore, lead, zinc, copper, granite, laterite, sapphire, tourmaline, emerald, topaz, amethyst, gamer, etc. Nigeria has a vast uncultivated arable land even as its geographical area is approximately 923, 769 sq km (356,669 sq ml).
“This clearly demonstrates the wide mineral spectrum we are endowed with, which offers limitless opportunities along the value-chain, for job creation, revenue growth. Nigeria provides one of the highest rates of return because its minerals are closer to the suffer”, Adegbite said. Therefore, poverty in Nigeria is not the consequences of lack of resources and manpower but inequality, misappropriation, outright embezzlement, barefaced corruption that is systemic and normative in leaders and public institutions. According to the World Poverty Clock 2023, Nigeria has the awful distinction of being the world capital of poverty with about 84 million people living in extreme poverty today.
The National Bureau of Statistics (NBS) data also revealed that a total of 133 million people in Nigeria are classed as multi-dimensionally poor. Unemployment is a major challenge in the country. About 33 percent of the labour force are unable to find a job at the prevailing wage rate. About 63 percent of the population are poor because of lack of access to health, education, employment, and security. Nigeria Economic Summit Group (NESG) speculated that unemployment rate will increase to 37 percent in 2023. The implications, therefore, is increase in unemployment will translate to increase in the poverty rate. The World Bank, a Washington-based and a multi-lateral development institution, in its macro-poverty outlook for Nigeria for April 2023 projected that 13 million Nigerians will fall below the National Poverty line by 2025.
It further stated that the removal of subsidy on petroleum products without palliatives will result to 101 million people being poor in Nigeria. Statistics also show that “in 2023 nearly 12 percent of the world population of extreme poverty lived in Nigeria, considering poverty threshold at 1.90 US dollars a day”.Taking a cursory look at the Nigerian Development Update (NDU), the World Bank said “four million Nigerians were pushed into poverty between January and June 2023 and 7.1 million more will join if the removal of subsidy is not adequately managed.” These startling revelations paint a grim and bleak future for the social-economic life of the people.The alarming poverty in the country is a conspiracy of several factors, including corruption. In January, 2023 the global anti-corruption watchdog, Transparency International, in its annual corruption prospect index which ranks the perceived level of public sector corruption across 180 countries in the world says Nigeria ranked 150 among 180 in the index. Conversely, Nigeria is the 30th most corrupt nation in the ranking. It is also the capital of unemployment in the world.
Truth be told: a Government that is corruption-ridden lacks the capacity to build a vibrant economy that will provide employment for the teeming unemployed population. So crime and criminality become inevitable. No wonder, the incessant cases of violent crimes and delinquency among young people. Corruption seems to be the second nature of Nigeria as a nation . At the root of Nigerians’ poverty is the corruption cankerworm.How the nation got to this sordid economic and social precipice is the accumulation of years of corrupt practices with impunity by successive administrations. But the hardship Nigerians are experiencing gathered momentum between 2015 and 2023 and reached the climax few days after President Bola Ahmed Tinubu, who assumed power as president of Nigeria, removed the controversial petroleum subsidy. Since then, there is astronomical increase in transport fares, and prices of commodities. Living standard of most Nigerians is abysmally low, essential commodities are out of reach of the poor masses who barely eat once a day.
The Dollar to Naira exchange rate ratio at one dollar to N1,000, is the most economy-unfriendly in the annals of the history of Nigeria. The prohibitive prices of petroleum products with the attendant multi-dimensional challenges following the removal of the subsidy, has posed a nightmare better to be imagined than experienced. Inflation, has been on the increase, negatively affecting the purchasing power of low income Nigerians. Contributing to the poverty scourge is the low private investment due to.unfriendly business environment and lack of power supply, as well as low social development outcomes resulting in low productivity. The developed economies of the world are private sector-driven. So the inadequate involvement of the private sector in Nigeria’s economy, is a leading cause of unemployment which inevitably translates to poverty.
Igbiki Benibo
Opinion
Dangers Of Unchecked Growth, Ambition
In today’s fast-paced, hyper-competitive world, the pursuit of success and growth has become an all-consuming force. Individuals, organisations, and nations alike, are locked in a perpetual struggle to achieve more, earn more, and surpass their rivals. Yet, beneath this relentless drive for progress lies a silent danger—the risk of self-destruction. This perilous pattern, which I call the self-destruct trajectory, describes the path taken when ambition and growth are pursued without restraint, awareness, or moral balance. The self-destruct trajectory is fueled by an insatiable hunger for more—a mindset that glorifies endless expansion while disregarding the boundaries of ethics, sustainability, and human well-being. At first glance, it may appear to promise prosperity and achievement. After all, ambition has long been celebrated as a virtue. But when growth becomes the only goal, it mutates into obsession.
Individuals burn out, organisations lose their soul, and societies begin to fracture under the weight of their own excesses. The consequences are everywhere. People pushed beyond their limits face anxiety, exhaustion, and disconnection. Companies sacrifice employee welfare and social responsibility on the altar of profit. The entire ecosystems suffer as forests are cleared, oceans polluted, and air poisoned in the name of economic progress. The collapse of financial systems, widening income inequality, and global environmental crises are all symptoms of this same relentless, self-consuming pursuit. To understand this dynamic, one can turn to literature—and to Charles Dickens’ Oliver Twist. In one of the novel’s most haunting scenes, young Oliver, starving in the workhouse, dares to utter the words: “Please, sir, I want some more.” This simple plea encapsulates the essence of human desire—the urge for more. But it also mirrors the perilous craving that drives the self-destruct trajectory. Like Oliver, society keeps asking for “more”—more wealth, more power, more success—without considering the consequences of endless wanting.
The workhouse itself symbolises the system of constraints and boundaries that ambition often seeks to defy. Oliver’s courage to ask for more represents the daring spirit of human aspiration—but it also exposes the risk of defying limits without reflection. Mr. Bumble, the cruel overseer, obsessed with authority and control, embodies the darker forces that sustain this destructive cycle: greed, pride, and the illusion of dominance. Through this lens, Dickens’ tale becomes a timeless metaphor for the modern condition—a warning about what happens when ambition blinds compassion and growth eclipses humanity. Avoiding the self-destruct trajectory requires a radical rethinking about success. True progress should not be measured solely by accumulation, but by balance—by how growth serves people, planet, and purpose.
This calls for a more holistic approach to achievement, one that values sustainability, empathy, and integrity alongside innovation and expansion
Individuals must learn to pace their pursuit of goals, embracing rest, reflection, and meaningful relationships as part of a full life. The discipline of “enough”—knowing when to stop striving and start appreciating—can restore both mental well-being and moral clarity. Organisations, on their part, must reimagine what it means to succeed: prioritising employee welfare, practising environmental stewardship, and embedding social responsibility in the core of their mission. Governments and policymakers also play a vital role. They can champion sustainable development through laws and incentives that reward ethical practices and environmental responsibility. By investing in education, renewable energy, and equitable economic systems, they help ensure that ambition is channeled toward collective benefit rather than collective ruin.
Corporate Social Responsibility (CSR) provides a tangible pathway for this transformation. When businesses take ownership of their social and environmental impact—reducing carbon footprints, supporting local communities, and promoting fair labour—they not only strengthen society but also secure their own long-term stability. Sustainable profit is, after all, the only kind that endures. Ultimately, avoiding the self-destruct trajectory is not about rejecting ambition—it is about redefining it. Ambition must evolve from a self-centred hunger for more into a shared pursuit of the better. We must shift from growth at all costs to growth with conscience. The future will belong not to those who expand endlessly, but to those who expand wisely. By embracing restraint, compassion, and sustainability, we can break free from the cycle of self-destruction and create a new narrative—one where success uplifts rather than consumes, and where progress builds rather than burns.
In the end, the question is not whether we can grow, but whether we can grow without losing ourselves. The choice is ours: to continue along the self-destruct trajectory, or to chart a more balanced, humane, and enduring path toward greatness.
Sylvia ThankGod-Amadi
Opinion
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