Naira Redesign: APC Agro directorate asks FG to compensate farmers

The Agro-Commodity Directorate of the Presidential Campaign Council of the APC has asked the federal government to compensate farmers for losses incurred due to the Naira policy of the Central Bank of Nigeria (CBN).

The directorate made this plea on Saturday during a press briefing in Abuja.

Shehu Muazu, a member of the PCC and National Coordinator for Rice Farmers Association of Nigeria, stated that farmers incurred losses during the implementation of the policy.

He noted that action must be taken by the current administration to cushion the effect of the policy on the farmers.

“On our side, we have a president-elect, who is yet to be in office. However, the directorate wants to call on the president and Commander in Chief of the Federal Republic of Nigeria, His Excellency Muhammadu Buhari……now that the Supreme Court has spoken and we all know the consequences of that hardship….. we are not saying anybody should be punished, we should be forgiving as we have been directed by our principal. However, we call on the federal government of today to put in place policies that will help to alleviate the losses incurred by farmers,” he said.

Naira redesignThe CBN had last year announced the redesign of 200, 500 and 1,000 naira notes, and planned to end the use of the old notes by 10 February.

The implementation of the policy generated an acute shortage of cash which prompted three state governments – Kaduna, Kogi, and Zamfara — to approach the Supreme Court for intervention.

PREMIUM TIMES reported how several members of the ruling party, including the president-elect, Bola Tinubu, opposed the policy and called on Mr Buhari to act.

However, Mr Buhari refused to comply with the order of the Supreme Court and instead offered a compromise to allow the old N200 notes to continue to exist alongside the new notes till 10 April.

On Friday the Supreme Court finally extended the validity of the N200, N500, and N1,000 Naira notes till 31 December.

We’ll mobilise farmers for gubernatorial raceIn his remarks, the coordinator of the directorate for North-west, Bello Abubakar, said the campaign council will mobilise farmers across the country to vote for APC governorship candidates across the country.

“We urge all farmers to come out en-mass for the governorship and house of assembly election expected to hold on the 11th of March 2023 and vote massively for APC candidates in the election across the country. Please note that every farmer’s vote is important and farmers must deliver.

“Rural farmers are the APC primary constituency and we must show this by voting for APC candidates in the upcoming elections to help H.E Senator Bola Ahmed Tinubu and H.E Senator Kashim Shettima deliver on their mandate to the Nigeria people,” he said.

The governorship elections are scheduled for 11 March in 28 states.