Farmers seek FG’s compensation over losses caused by Naira redesign

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The All Farmers Association of Nigeria (AFAN) has appealed to the Federal Government to compensate farmers for losses they made 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, adding that the support could be in form 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 the cashless policy and naira redesign policy of the Federal Government in February seriously affected many farmers.

“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.

“The poultry farmers were the most affected, it was just like the period of COVID-19 which we experienced in 2020. We pray never to have a repeat of COVID-19 again because it was a great loss,” Oke revealed.

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