Disturbed by the implementation of Anchor Borrowers Scheme, a Central Bank of Nigeria (CBN) intervention on agriculture, members of business community in Kano has described the entire program as scam.

Besides, the community insisted that the Federal government export incentives are being lopsided to favor foreign investors at the expense of local manufacturers.

Speaking during an interactive session with Minister of Information and National Orientation, Mohammed Idris on Friday, the businessmen urged the federal government to learn from the mismanagement of interventions by previous administration.

The Minister was in Kano in company of senior presidential aides on communications and strategy, Mr. Bayo Onanuga, as well as head of agencies under ministry of information on special engagement with stakeholders on government policies and programs.

Leading the interactive session with the minister, Chairman, Kano Business Community, Sabiu Bako revealed that apart from poor management of CBN anchor borrowers scheme, the resources was not channeled to the farmers who are the main target.

Bako lamented the deplorable condition of electricity and negative impact on businesses in Kano. He equally reminded the minister of what he described as lopsided issuance of export incentives which only favor foreign investors in the state.

Chairman, Northern Chamber of Commerce, Dalhatu Abubakar urged President Bola Tinubu’s administration to help ease challenges of availability forex and reactivate the quarterly engagement with Kano business community to enhance ease of doing business.

Another prominent member of the community, Mohammad Sani Saibu solicited federal government intervention in the areas of credit facility, just as he called for review on the processes and procedures of accessing government loans.

Reacting, the Minister assured the business community that the present administration is ready to listen and address their plight to enhance social economic development.

Idris explained that government was aware of challenges Nigerians go through as a result of fuel subsidy removal added that President Tinubu is committed to mitigate the situation.

According to the minister, government has been to witness positive impact of the removal of subsidy on fuel with drastic reduction of about 50 per cent in fuel importation and reinstatement of local refineries including Dangote and Port Harcourt facilities that will soon begin production.

On efforts to ease the temporary burden, Idris said government has earmarked N200 billion business grant for traders, food vendors, MEME and other business community. He added that another N100 billion is set aside for agribusiness development.