Searching for Agric Intervention Fund

The Agricultural Intervention Fund (AIF), an executive bill presented by the former President Olusegun Obasanjo to the National Assembly for signing into law is yet to come to pass since his departure in 2007 and it seems no one is talking about it.

The motivation behind this sector having an intervention fund like education is premised on the time bound nature of agriculture to food security, which requires that delay may be very dangerous, coupled with climate change impacts that is becoming very obvious on production of both animals and crops.

Many stakeholders in the past had frantically condemned the poor funding of agricultural sector in Nigeria, saying the paltry fund allocation may not give food security to the nation. Among such people is Prof. P.O Donli of the Actionaid who said that the present budgetary allocation to the sector may not assist the realization of the commercial food production that will alleviate poverty.

Prof. Donli stated “Nigeria spends very little on agriculture; the figures for the states are also low varying from 2.0-5.9%. Not only is spending low, it is extremely erratic.”

Presently, the funding challenges of the Growth Enhancement Scheme (GES) programme may not be too far from her position. The 2015 GES inputs distribution for the raining season and last year’s dry season planting could not take place as money to execute the project was not available, which AIF would have given a backup.

A lot of agricultural challenges was addressed in the bill, among is the funding of the three commodity marketing companies which became operational until they were ordered to fold up due to lack of funding and other obvious policy somersaults. Already the usual funding challenges in the sector is not sparing the present Agricultural Transformation Agenda (ATA) as many of the agro dealers who supplied the 2014 dry season inputs are yet to be paid.

This has brought to mind the where about of this executive bill that is meant to address major challenges in agricultural sector, hoping that resounding it into the ears of President Muhammadu Buhari might worth its representation to the National Assembly for consideration.

Oladehinde writes from Abuja.