The Federal Government has been urged by the All Farmers Association of Nigeria to compensate farmers for losses incurred as a result of the Central Bank of Nigeria’s redesign of the naira and the ensuing cash shortage.
The farmers appealed while discussing how the policy will affect food production and the agribusiness sector in an interview with the News Agency of Nigeria on Saturday in Lagos.
They claimed that to persuade farmers to restart their farms, compensation became necessary.
The compensation, according to the farmers, may take the form of subsidies, inputs, fertilizer, and farm machinery.
They continued by saying that it would allow them to achieve the 2023 food production goal.
According to Dr. Femi Oke, the chairman of AFAN’s Lagos and South-West Zone, many of their members were impacted by the policy’s implementation, which interfered with farming operations.
Oke claims that the Federal Government’s cashless policy and naira redesign strategy in February had a significant negative impact on farmers.
Because many farm workers don’t have bank accounts, they rely on daily payments, which Oke described as a major concern.
Oke pleaded with the FG to make up for all of the damages brought on by the poorly timed policy.
Additionally, he asked the CBN to collaborate with AFAN and the Federal Ministry of Agriculture on developing policies and informing farmers.
He pleaded with farmers, though, to return to their farms and support government initiatives to increase food production and self-sufficiency instead of giving up or being disheartened by recent economic developments.
