Stakeholders Decry Poor Monitoring Of Foreign Aid


Stakeholders in the agriculture sector have raised the alarm over poor monitoring of foreign aid to the sector.

They said the development may scuttle government’s efforts to achieve food security.

Former Mycotoxicology Society of Nigeria President Prof Dele Fapohunda said there was a need for increased government’s monitoring of foreign aid spending in agriculture to ensure the objectives of food security is achieved.

This followed rising concern that aid spending was not being properly monitored.

There have been series of controversies over money being spent on other projects other than the ones targeted by the foreign agencies.

He called for more transparency and accountability of the aid spent by departments to support agriculture, adding that the country might not be able to move forward in her quest to reduce food insecurity.

Fapohunda urged the government to ensure all departments are supported to spend foreign assistance to agriculture responsibly and effectively.

According to him, the government needs to take an evidence-based approach to diverse departments handling foreign aid.

A stakeholder, who chose to speak anonymously, expressed worries that so much money was being channeled from foreign donors to support programmes in cassava, and sought the strengthening of the department to measure how well the money was being used.

The New Partnership for Africa’s Development (NEPAD) has called for a regional project information hub to stimulate investment in Africa.

NEPAD’s Infrastructure Project Preparation Facility (IPPF) proposed that each country should be linked to a central hub to unlock bankable investment opportunities with information about projects accessible to potential investors.

IPPF Co-ordinator Shem Simuyemba explained that the initiative would show the financial-readiness of projects in terms of the key returns that investors seek.

He said unlike other parts of the world, the emergence of an indigenous class of trans-continental investors was only just the beginning for Africa, partly because of a history of state monopoly companies, which had crowded out the private sector and stifled its growth.

Simuyemba also called for liberalisation of sectors still dominated by governments, such as information technology, energy generation and transport.

He also stressed the importance of regional markets, saying they should be created through policy reforms, incentives and strengthened partnerships.