The Yobe State Government, in partnership with the World Bank-assisted Agro-Climatic Resilience in Semi-Arid Landscapes (ACReSAL) project, has launched a second round of disbursement of $2,525,000 as an interest-free community revolving fund loan to 101 communities and farmer groups in the state.
Speaking at the launch, Governor Mai Mala Buni emphasized that the initiative aims to boost economic growth, generate employment opportunities, and promote wealth creation within farming communities.
Buni announced the allocation of 4,825 slots out of the total 7,340 slots to youths, ensuring their active participation and benefit from the revolving fund program.
“This occasion marks another milestone achieved by the state government in supporting 101 communities, in line with our policy on youth empowerment,” he said.
“It is an investment revolving facility sourced by the state government for communities and farmer groups to expand agricultural development and strengthen the role of communities in managing their environment for economic prosperity.”
The governor noted that 10 pilot communities in Damaturu and Nguru local government areas received $25,000 (N32,500,000) each last year.
He urged beneficiaries to utilize the loan effectively and ensure timely repayment to sustain the program and encourage the introduction of additional incentives.
“We have a duty to join hands to effectively combat economic, environmental, and other social challenges for the betterment of our people and the state,” he added.
Governor Buni commended ACReSAL for ensuring a seamless process in identifying and guiding the beneficiary groups to qualify for the scheme.
He reaffirmed the Yobe State Government’s commitment to forging more partnerships with the federal government and other stakeholders to improve the quality of life for the people.
