Bring back Anchor Borrowers’ Programme – Dangote advises Nigerian govt

The chairman of the Dangote Group, Aliko Dangote, has urged the federal government to bring back the Anchors Borrowers’ Programme, which gulped N1.1 trillion before its suspension in 2022.

Dangote disclosed this on Saturday while on a tour with the leadership of the House Representatives, led by the Speaker, Tajudeen Abbass, at his fertiliser plant.

According to him, farmers need the programme to upscale their businesses.

“Farmers don’t have money. That’s the main reason why the government should consider bringing back the Anchor Borrowers’ Programme,” the businessman said.

He added that his fertiliser would focus on local farmers.

“We were exporting because we needed to reduce demand. But we only have one ship, which will leave at the end of the month. Right now, we are loading only for local use.

“The farmers need to grow food. And that’s why we give them fertiliser in advance. Then they will now go and pay me back,” Dangote said.

The Anchor Borrowers’ Programme, which took off in 2015 under former Central Bank of Nigeria’s governor, Godwin Emefiele, was suspended in 2022 owing to some farmers’ inability to pay back the loans they collected from the bank.

DAILY POST recalls that the House of Representatives and Senate had, on separate occasions, ordered probes into the N1.12 trillion Anchor Borrowers scheme.