The National Food Security Processing and Marketing Corporation (NFSPMC), formerly known as GGC, revealed yesterday that a significant shortfall of D32 million has been identified across 40 seccos nationwide. This disclosure was made during a press conference convened by the corporation to address allegations of outstanding debts owed to certain seccos.

The announcement follows Agriculture Minister Demba Sabally’s recent statement to the National Assembly, indicating that the government ceased groundnut purchases after expending an unprecedented D1.5 billion. Initially budgeted to procure 25,000 tons of groundnuts, the government ultimately acquired 36,000 tons due to a highly successful harvest.

According to NFSPMC officials, the discovered shortage stems from the variance between the quantity purchased and the amount delivered to GGC depots. Officials highlighted that many seccos failed to substantiate credit purchases, resulting in a total recorded shortage of 856.135 metric tons across the affected 40 seccos.

Highlighting the gravity of the situation, NFSPMC stressed the necessity of recovering the funds owed, emphasizing that loans from financial institutions such as Agib were utilized to finance groundnut purchases, and thus must be repaid by the state. Efforts are underway to support affected regions, with a focus on enhancing coordination and communication among all stakeholders involved in the groundnut trade process.

Assuring transparency, accountability, and fairness, NFSPMC reiterated its commitment to resolving outstanding issues while expressing gratitude for stakeholders’ cooperation. Additionally, it was revealed that D40 million was disbursed to the 95 seccos as commission, underscoring the importance of continued vigilance and oversight in agricultural trade operations.