As Flooding engulfs several Frontline States following the release of Water from the Lagdo Dam in Cameroon, approximately 3.04 million Nigerian Farmers are expected to Encounter Difficulties repaying the over N700 billion Loan Issued under the Central Bank of Nigeria’s Anchor Borrowers’ Programme.
With the Opening of the Dam, 13 frontline States are Anticipated to be affected, according to the National Emergency Management Agency (NEMA).
The Water levels have already Surged in States like Benue, Anambra, and Niger.
Analysis Indicates that Farmers in these States are now at risk of Flooding, which could make it challenging for them to meet their repayment Obligations for the Anchor Borrowers’ Loan.
Besides the Cameroonian Dam opening, NEMA has also warned about heavy Rainfall in August that could affect around 56 Communities in 19 Nigerian States.
Dr. Chukwuma Anyaike, Director/Head of the Public Health Department at the Federal Ministry of Health, disclosed this Development at the Pro-Health Tax Policy Campaign on SSB, held in Abuja.
She stated that the Opening of the Dam might Hinder the repayment of Anchor Borrowers’ loans by Farmers in affected Areas.
The Federal Government also expressed its Opposition to the Dam Opening by Cameroon without Notifying Nigeria.
Clement Nze, Director-General of Nigeria Hydrological Services Agency (NIHSA), stated that Nigeria had raised Concerns over this Matter with Cameroon.
He highlighted that such Dam Openings could lead to Flooding and adversely affect Nigeria.
In terms of Loan Data, the CBN Disbursed N12.65 billion to Farmers under the Anchor Borrowers’ Program in the Initial two Months of 2023.
Godwin Emefiele, the
The suspended CBN Governor reported that a total of N1.09 trillion had been Disbursed through the ABP since its Inception in 2015.
The Program has benefitted 4.6 million Smallholder Farmers engaged in Cultivating 21 Agricultural Commodities.
