Mismanagement of Funds, Insecurity, Bane of Food Security in Nigeria – NESG

Private sector-led policy advocacy group, the Nigerian Economic Summit Group (NESG) has identified key challenges bedeviling the agriculture sector in Nigeria.

In a statement signed by the Chairman of the NESG board, Mr. Asue Ighodalo and the CEO, Mr. Laoye Jaiyeola, the group highlighted mismanagement of funds as a key factor militating against the attainment of self-sufficiency in food production.

The group assessed several policy steps and reforms carried out by the current administrations and also proffered solutions to some of the socio-economic challenges in the country.

To curb fiscal mismanagement, it proffered a total overhaul of the management of key facets in the agriculture sector, as well as extended support to boost investment.

“The Nigerian Economic Summit Group (NESG) notes that since the inception of this Administration, Agriculture and the need to ensure Zero Hunger for Nigerians has received considerable attention.

“However, despite the budgetary allocations and huge sums of money disbursed by the Central Bank of Nigeria (CBN) through the Anchor Borrowers’ Programme, a huge gap remains in meeting the food requirements, which has resulted in increasing hunger among the Nigerian populace.

“Evidently, the issues are beyond money and therefore, require a complete overhaul of the management of, and support for the Agriculture sector and all related sectors – with a view to getting more value for our investments,” the statement read in part.

On insecurity, an issue that has been harped on by several stakeholders, NESG decried its adverse effects on businesses and investments.

According to the group, insecurity has in no small measure, contributed to food crisis and unemployment in the country.

It said: “The NESG expresses its concern about the high level of insecurity across the country and its impact on the business environment and investment flows, which has contributed massively to the current food crisis, unemployment, poverty, increasing community clashes, rising bloodshed and the absence of peace and tranquillity in the land.

“Therefore, we again join the call by all well-meaning Nigerians, for Government to critically re-evaluate our security architecture and take all necessary actions to assure and safeguard the safety of all Nigerian citizens and residents.”


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