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| Acting President, Prof. Yemi Osinbajo |
The Seed Association of Nigeria
(SEDAN) had met with the Acting President, Prof. Yemi Osinbajo to
seek for single digit (of 5%) bailout loan as an intervention for the survival
of the sub sector towards achieving the new green revolution policy of the
Federal Government.
SEDAN had, among other things, gone
to complain of its predicament to the Acting President for immediate
intervention, so as to rescue some of the major members from going out of
business occasioned by bank interest loan rate accruement due to nonpayment of
the last 2014 GES debt payment owed by the last administration.
A reliable source told us through the
phone that the association’s meeting with the Acting President, Prof. Yemi
Osinbajo did not really get a clear cut response, but that the presidency has
promised to look into matter because of the strategic nature of the industry to
food security.
The SEDAN members were said to have
been very upset with the way and manner at which preferential treatment were
given to the fertilizer companies in the disbursement of the two tranches of
money released last and nine months later respectively for the payment of
outstanding GES debt, complained bitterly that the higher part of the money was
used to offset the fertilizer companies while just a fraction of the money was
given to them and agro dealers.
It was learnt that the fertilizer
companies were given preferential payments in the two tranches’ payment, as our
source pointed that nine months ago a total of 20 billion naira was released
with only N5 billion shared among the seed companies and agro dealers and a
total of N15 billion was given to fertilizer companies alone.
Just last month also, the 12.5
billion naira was not evenly distributed as about ten billion was paid to the
fertilizer companies while the remaining N2.5 billion went to both the seeds
companies and agro dealers who all happened to have taken loan accruing
interest from the banks.
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