House urges CBN to provide loans for cassava farmers

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By Paulinus Sunday

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The House of Representatives has urged the Federal Government, through the Central Bank of Nigeria (CBN), to ensure cassava farmers across the country have easy access to short-term loans. The move is aimed at strengthening food security and expanding Nigeria’s agricultural value chain.

Lawmakers also called on President Bola Tinubu to reconstitute the defunct Presidential Committee on Cassava Initiative to enhance the welfare of cassava farmers and reposition the subsector for export competitiveness.

The resolution was adopted following a motion sponsored by Hon. Canice Nwachukwu, a member representing Imo State under the All Progressives Congress (APC), during Wednesday’s plenary session.

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Nwachukwu explained that cassava cultivation has become one of Nigeria’s most organised and promising agricultural ventures. He noted that cassava processing plays a vital role in producing food products, livestock feed, and industrial materials. According to him, cassava by-products such as garri have become major export commodities, contributing significantly to Nigeria’s foreign exchange earnings.

He pointed out that cassava is grown in all 36 states and the Federal Capital Territory, serving multiple economic and nutritional purposes. “Beyond its use as food, cassava peels and starch derivatives are valuable in livestock feed production, pharmaceuticals, and industrial manufacturing,” Nwachukwu said.

The lawmaker stressed that easy access to short-term loans and modern processing equipment would revolutionise cassava farming, enhance farmers’ income, and increase productivity. “If cassava processing machines and short-term loans are provided, farmers can transform cassava into garri and fufu hygienically and efficiently. This will boost market value, improve food quality, and help farmers contribute more to national GDP,” he stated.

Nwachukwu added that Nigeria could achieve greater economic diversification by exploring cassava’s export potential as a viable alternative to crude oil for foreign exchange earnings. He expressed concern that despite being one of Africa’s largest cassava producers, Nigeria still processes about 90 percent of its yield locally, mainly at the cottage level using outdated technology.

“Most processors are women who work under poor hygienic conditions with limited access to credit and modern equipment. These challenges result in low productivity, poor packaging, and minimal profits along the value chain,” he lamented.

Following deliberations, the House urged the CBN to direct the Bank of Agriculture, Bank of Industry, and other financial institutions to create mechanisms that guarantee cassava farmers easy access to short-term credit facilities.

Lawmakers further called on the Federal Government to revive the Presidential Committee on the Cassava Initiative Programme, also known as the Composite Cassava Flour Initiative of 2002, to promote value addition, research, and farmer support.

In addition, the House mandated the Federal Ministry of Agriculture and Food Security to conduct extensive training for peasant farmers on cassava production, processing, and packaging to improve standards and global competitiveness.

The Committees on Agricultural Production and Services and Legislative Compliance were instructed to monitor the implementation of the resolution and report back within four weeks for further legislative action.

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