THESHIELD Garkuwa
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By, Sani Gazas Chinade, Damaturu
The Yobe state governor Mai Mala Buni has launched a second disbursement of $2,525,000 non-interest Community Revolving Fund loan to 101 communities and farmer groups in the state.
In his speech during the disbursement took place on Saturday at banquet hall in government house Damaturu Buni said, the Fund was aimed at driving economic growth, provide employment opportunities and create wealth atlarge.
According to him this disbursement to about 101 will really ginger the economy of the beneficiaries and the state respectively.
Buni said, “It is an investment revolving facility sourced by the state government for communities and farmer groups to expand agricultural developments and strengthen the role of communities in the management of their environment for economic prosperity atlarge.”
“Obviouslly this occasion is another milestone achievement by the state government by supporting 101 communities, and in line with our policy on youth empowerment, l have directed the allocation of 4,825 slots out of the total 7,340 slots to the youths for maximum engagement and benefit of the Community Revolving Fund loan programme respectively,” Buni said.
The governor said, about 10 Pilot communities in Damaturu and Nguru Local government areas received $25,000 (N32,500,000.00) each last year 2024.
According to him the reports reaching to his office indicate that the benefitting communities and farmer groups have made good use of the facility, and commenced the repayment to sustain the revolving scheme, and afford others the opportunity to benefit, Buni said.
Therefore he charged the beneficiaries on judicious use of the loan and ensure repayment for the success of the programme to spur the government to introduce more incentives next time.
Buni commended ACReSAL for the smooth process of identifying and guiding the benefitting groups to qualify and benefit from the scheme respectively.
