By Muhammad Mamman
In a pivotal move to address Nigeria’s escalating food security crisis, Mohammed Babangida’s appointment as Chairman of the Bank of Agriculture (BOA) has sparked both optimism and scrutiny. Tasked with steering one of the nation’s most critical institutions, Mr Babangida steps into a role fraught with challenges, as over 3.7 million Nigerians in the North-east alone face acute food insecurity, according to the International Committee of the Red Cross (ICRC) on 22 July 2025. National estimates suggest that between 24 and 35 million citizens are at risk, underscoring the urgency of his mandate.
The appointment, met with predictable backlash from critics of President Bola Tinubu and detractors of Mr Babangida’s father, General Ibrahim Babangida, reflects the polarised political climate. However, Mr Babangida’s extensive exposure to governance, gained through years as a trusted confidant to his father during interactions with Nigeria’s past and present leaders, equips him with a profound understanding of the nation’s challenges. His task is nothing short of Herculean: to transform the BOA into a dynamic force for agricultural progress at a time when soaring input costs and ineffective policies threaten food production.
A Looming Food Crisis
The Daily Trust reported on 21 July 2025 that farmers are shifting from rice and maize to crops like cassava, millet, sorghum, and groundnut due to the prohibitive cost of fertilisers. Despite the Federal Government’s claim of distributing N200 billion worth of fertilisers and inputs to farmers, these resources have largely failed to reach grassroots levels. This shift away from rice and maize—two of the world’s most critical grains alongside wheat—jeopardizes Nigeria’s food security. Globally, wheat, rice, and maize account for over half of human caloric intake, yet Nigeria’s comparative disadvantage in wheat production and historical neglect of rice and maize cultivation have left the nation vulnerable.
The government’s past efforts, including the Anchor Borrowers Programme under former President Muhammadu Buhari, aimed to achieve self-sufficiency in 12 crops but faltered due to a lack of focus and consistency. In contrast, nations that have achieved food surplus typically prioritise two or three key crops. Nigeria’s success with cassava under Presidents Obasanjo and Jonathan is a notable exception, though cassava lacks the global dietary significance of rice or maize.
Compounding the issue, the Ministry of Agriculture and Food Security’s N200 billion intervention translates to a mere N2,000 per farmer for Nigeria’s estimated 100 million small-scale farmers—an insufficient sum to address the crisis. The substitution of rice and maize with less fertiliser-intensive crops, combined with inadequate fertiliser access, is likely to result in diminished harvests, exacerbating food scarcity.
A Historical Missed Opportunity
Nigeria’s agricultural potential has been undermined by systemic failures. The closure of the International Rice Research Institute’s (IRRI) research centre in Badeggi, Niger State, under the Abacha regime due to unpaid funding, marked a significant setback. Unlike other nations with IRRI centres that became rice exporters, Nigeria remains a net importer. This history of missed opportunities underscores the need for coherent, sustained agricultural policies.
The Bank of Agriculture’s Pivotal Role
As Chairman of the BOA, Mr Babangida must leverage the institution to provide accessible, well-structured loans to farmers, addressing the systemic neglect highlighted by Japanese economist Ibrahim Okhai in the 1980s: “The banks and governments only help those who don’t need it.” With Nigeria’s agricultural sector at a crossroads, the BOA must deliver innovative financing solutions to empower small-scale farmers, who form the backbone of the nation’s food production.
Mr Babangida’s challenge is to inject youthful energy and strategic vision into the BOA, ensuring it becomes a catalyst for agricultural transformation. As Nigeria grapples with the dual threats of food insecurity and economic losses from illegal mining, as highlighted in related calls for reform, the stakes could not be higher. The nation watches as Mr Babangida navigates this critical juncture, where success could redefine Nigeria’s path to food self-sufficiency.
