On Wednesday, President Muhammadu Buhari approved the payment of the outstanding 22 billion naira for dealers of agricultural inputs, popularly known as agro-dealers. According to the presidency, this is to ensure seamless distribution of fertilizers at an approved rate of 5, 500 naira for 50kg as early detailed in the policy on agriculture in February.
According to Mr Kabiru Fara, the National Chairman, Agro-dealers Association of Nigeria, President Buhari approved the payment of the balance of 22 billion naira that was owed the agro-dealers by the previous government to ease their challenges sequence to the policy drawn after farmers complained that a 50kg bag of fertilizer was selling for 10,000 naira to 12, 000 naira.
Kabiru said, “The presidential initiative on fertilizer distribution is too important. We are happy with it because it will help the farmers get inputs at affordable prices and we are the ones who serve as a link between the farmer and the supplier.
“However, our bankers and suppliers are not happy in dealing with us for now, because we have their money hanging, as well as some of our money that are still not paid.
“This liability was not incurred by the present administration, but we are happy that they have agreed to pay. We understand that Mr President has approved expressly that the liability be paid.
“The total amount is about 62 billion naira, a first payment of 20 billion naira was made, another payment of 20 billion naira followed, which was about a year ago, and the balance now is 22 billion naira, which the president has approved that it be paid to agro-dealers expressly. We are grateful for that.”
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