Former Nigerian Senator, Shehu Sani, has commended the federal government for securing a $4.3 billion agricultural investment deal from Brazil aimed at revitalizing the country’s 774 local governments.
In a statement on his verified Twitter account, Sani described the initiative as a significant economic opportunity for Nigeria, but he cautioned against potential misuse of the funds.
“It’s commendable to secure $4.3 billion agricultural investment from Brazil for our 774 local governments,” Sani stated. “However, if the money is just shared to LGs without strict financial guidelines, monitoring, and defined goals, it will go down the drain.”
The investment, part of a broader collaboration between Nigeria and Brazil, is expected to enhance agricultural productivity and infrastructure at the grassroots level. Analysts believe the funds could boost food security, create jobs, and reduce rural poverty if implemented effectively.
Sani’s remarks underscore the recurring challenges of fund mismanagement in Nigeria’s local government system. Critics have often pointed to the lack of transparency and accountability at this tier of governance as a major impediment to developmental projects.
The former senator emphasized the need for a robust framework to ensure the funds are utilized effectively. He called for the establishment of financial guidelines, regular audits, and a monitoring mechanism to track the progress of agricultural initiatives across the country.
This cautionary note has resonated with many Nigerians, who share concerns about the potential misappropriation of funds intended for development. Observers hope that the government will heed Sani’s advice and prioritize accountability in disbursing the investment.