The Role of Cash Waqf in Achieving a Mechanized Agriculture in Nigeria

By Ibrahim Mohammed Lawal

Abstract

Revamping agriculture has been the top agenda for government and Non Governmental organization (NGO’s) taking into cognizance the rate of poverty and hunger that is ravaging the people of the world where Nigerian is not an exception. This is majorly attributed to inadequate food supply arising from the method of production adopted. This is against the backdrop that majority of the farmers in the country are small farmers who rely on the traditional method of production.  To remedy this situation creates the needs to mechanize the agricultural system of production. Though, adopting this method of production, the financial capability of the farmers is a determining factor. Government has been spearheading this drive to mechanize its agricultural system but the resources at its disposal are very limited. The dwindling drop in oil prices in the international market, has been negatively affected revenues. This necessitates the need to adopt a waqf system, most especially the cash waqf where it will be incorporated as financing instruments like ijarah, musharakah to these farmers on cooperative basis. The study concludes that by rendering such services to farmers will gradually change the paradigm in terms of the practice of agriculture. i.e it will phase out the traditional agriculture to a mechanized agriculture. Furthermore, the study recommends that an act for setting up waqf should be formulated or a unit should be carved out of the existing structures, public awareness should be properly done, central registry of waqf should be created and such system should be digitalized so as to make collections easier.