Naira Policy: Farmers Beg FG For Compensation

The All Farmers Association of Nigeria (AFAN) has appealed to the Federal Government to compensate farmers for losses recorded during the implementation of the Central Bank of Nigeria (CBN) naira redesign and cash crunch.

The farmers made the plea in an interview with the News Agency of Nigeria (NAN) on Saturday in Lagos while reviewing the impact of the policy on food production and agribusiness.

They said that the compensation became necessary to encourage farmers to return to the farms.

The farmers said the compensation could be informed of grants, inputs, fertiliser and farm implements.

They added that it would enable them to meet the food production target already set for 2023.

Dr Femi Oke, AFAN’s Chairman of Lagos and South-West Zone, said a lot of their members were affected during the implementation of the policy, thereby disrupting farming activities.

According to Oke, the cashless policy and naira redesign policy of the Federal Government in February affected farmers seriously.

“From what we have seen and heard so far, the loss recorded during the period is huge and on the high side, especially for our members that are into livestock, poultry and piggery and processors.

“If we are to quantify these losses, it runs into billions of naira that we have lost during this period.

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