Bashir Ahmad, former Special Assistant on Digital Communications to late President Muhammadu Buhari, has revealed that several federal agricultural support programmes under the past administration were exploited by their intended beneficiaries. Instead of using the funds to improve food production, many recipients allegedly diverted the money to sectors like oil and gas, currency trading, and other high-end ventures.
Responding on social media to a post by Yakubu Wudil, who criticized the federal government’s import waiver policy aimed at reducing food prices, Ahmad defended the former administration’s efforts. He noted that major interventions like the Anchor Borrowers’ Programme (ABP) were designed to support farmers through subsidized inputs and equipment. However, he claimed that many participants misused the loans.
Ahmad said some farmers received up to ₦6 billion but chose to invest in unrelated sectors. Those who did engage in farming reportedly hoarded their produce after harvests, waiting for market prices to rise before selling—thus profiting at the expense of ordinary Nigerians.
Launched in 2015 by the Central Bank of Nigeria, the ABP aimed to connect smallholder farmers with large-scale processors to boost food production. However, the program’s effectiveness has been questioned. The International Monetary Fund (IMF) reported in 2023 that only 24 percent of the loans had been repaid. The CBN disputed this, claiming a 52 percent repayment rate.
Ahmad also addressed the controversial border closure policy under Buhari, which he said was wrongly criticized. He claimed the move successfully reduced rice imports and lifted many Nigerians out of poverty. Despite these goals, Ahmad admitted that the programs ultimately failed to stabilize food prices because some beneficiaries formed cartels, manipulated supply, and created artificial scarcity to raise profits.
He concluded that many of those involved are now under investigation by the Economic and Financial Crimes Commission (EFCC).
