AGRICULTURAL REVOLUTION THROUGH ANCHOR BORROWERS’ PROGRAMME (ABP) IN NIGERIA: PROBLEMS AND PROSPECTS

Abstract

Since the attainment of independence in 1960, different regimes at different times in Nigeria had made attempts to formulate and implement different agricultural policies meant to improving the level of food production in the country. The reason is not
farfetched. The discovery of crude oil and gas in Nigeria had in no small way kept agricultural production behind its major agenda. For quite some time now, the country has remained a dependent nation in terms of food production due to large importation of farm produce and this has affected its balance of payment. It is based on the above that the Federal Government of Nigeria in her efforts to revolutionalize agricultural sector initiated the Anchor Borrowers’ Programme (ABP) through the Central Bank of Nigeria. Relying on secondary sources of data collection and analysis, this paper is set to assess the achievement, problems and prospects of the of the scheme so as to ascertain whether it has helped in the revolution of agricultural sector of the country or not. The paper reveals that one of the major obstacles to the success of the scheme is the absence of absolute supervision on the Small Holder Farmers’ (SHFs) activities. The paper recommends that there is the need to assign professional supervisors that should first supervise the intended lands to be cultivated by the farmers so as to give the farmers professional advices on the type of crops to plant in order to avoid seeds failing problem. It recommends further that the Anchor Borrowers’ Programme (ABP) should boost and encourage irrigational farming to ensure efficient and constant food production in Nigeria throughout the year.