Yobe State Governor Mai Mala Buni has launched a second disbursement of $2,525,000 non-interest community revolving loans to 101 communities and farmers’ groups in the state.
The governor said the loan was aimed at driving economic growth, providing employment opportunities and creating wealth.
He added, “It is an investment revolving facility sourced by the state government for communities and farmers’ groups to expand agricultural development and strengthen the role of communities in the management of their environments for economic prosperity.
“This occasion is another milestone achieved 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 youths for maximum engagement and benefit.
According to the governor, 10 pilot communities in Damaturu and Nguru Local government areas received $25,000 (N32,500,000.00) each last year.
“Reports reaching my 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.
He charged the beneficiaries on judicious use of the loan and ensuring repayment for the success of the programme to spur the government to introduce more incentives.
