A former special assistant on digital communications to late President Muhammadu Buhari, Bashir Ahmad says many of the intervention programmes for farmers during the last administration “were grossly abused”.
Ahmad made the disclosure in a post on X, the microblogging platform, while responding to a post where one Yakubu Wudil queried the federal government’s decision to offer import waivers as part of measures to crash food prices.
Wudil argued that instead, the government should have invested in “subsidising fertilizers, gasoline, and provide modern farm equipment for our farmers”.
In response, Ahmad said some of the interventions Wudil highlighted were provided by the Buhari-led administration through initiatives like the Anchor Borrowers’ Programme (ABP).
The ABP was launched in 2015 to create a linkage between anchor companies involved in the processing and small holder farmers (SHFs) of the required key agricultural commodities.
In 2023, the Central Bank of Nigeria (CBN), said it disbursed N1.09 trillion under the programme since its inception.
“Billions of Naira were allocated to farmers with the goals of achieving food security, reducing poverty, and curbing unemployment and insecurity,” Ahmad said.
“Some farmers received loans running into billions, some even up to ₦6 billion, but instead of investing in agriculture, many diverted the funds to other sectors like oil and gas, bureau de change, and other luxury ventures.
“Those who actually farmed? After harvesting, they hoarded their produce, waiting for prices to spike so they could make exaggerated profits, at the expense of the same masses the initiative was meant to support.”
You are absolutely right, Doc., and I won’t attempt to counter your point. Instead, I’ll just take this opportunity to share something I have some knowledge of regarding this issue.
To be honest, I am with the Federal Government on this one. Many of the interventions you rightly…
— Bashir Ahmad, OON (@BashirAhmaad) July 27, 2025
The International Monetary Fund (IMF) said in 2023 that only 24 percent of loans collected by farmers under the ABP had been repaid.
The CBN, however, said 52 percent had been repaid countering the IMF.
On the border closure directive of the administration, Ahmad said the policy, aimed at encouraging local production, was misunderstood despite Buhari’s good intentions.
“The policy was misunderstood and widely attacked — even when the signs of success were evident, rice importation dropped and many Nigerians were pulled out of extreme poverty,” Ahmad said.
“The unfortunate truth is that the beneficiaries of the initiatives failed the government and the people. They didn’t help stabilize food prices. Instead, they formed cartels, manipulated supply and created artificial scarcity to make outrageous profits.”
He added that many of the beneficiaries are currently being investigated by the Economic and Financial Crimes Commission (EFCC).
Ahmad further said that he supports the food import waiver, even though it “shouldn’t be the go-to option”.
He explained that given the current economic realities, the government has to make tough choices, especially “given the betrayal of trust by key players in the local value chain”.
“It has become the only immediate relief available to reduce hunger and suffering in the short term,” he said.
“The long-term solution still lies in reviving and properly monitoring agricultural interventions, but for now, the people need to feed, first.” he said.
The Cable.
