Leadership
3 November 2011
The recent revelation by the Central Bank of Nigeria (CBN) governor, Malam Lamido Sanusi, that only 11 per cent of Nigerian farmers get fertilisers at subsidised prices while 89 per cent of the subsidies were "diverted fraudulently" was instructive. More shocking, however, was Sanusi's disclosure that fertilisers supplied to farmers did not actually weigh up to 50kg and that a half of such bags were filled with sand.
By implication, the nation's huge investment in fertiliser distribution through subsidies has been going into private pockets through the fraudulent activities of some stakeholders within the agriculture sector.
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