May 19, 2024
Vinikilang Hayin Gada along, Mudi-Yola Road, jimeta, Adamawa State, Nigeria
News

Adamawa state gov urges grain distributors in the state to ensure sincerity, flags off 5bn credit guarantee scheme in the state.

By

Babangida Galleon

 

Adamawa state governor, Ahmadu Umaru Fintiri has charged those entrusted with the distribution of grains in the state to ensure sincerity in the distribution.

 

Governor Ahmadu Umaru Fintiri gave the charge during the official launching ceremony of the credit guarantee scheme of Adamawa Agro-business support programme held at the banquet hall, government house yola.

 

Governor Ahmadu Umaru Fintiri said priority must be given to the less privilege households in the society during the distribution exercise.

 

The governor said one of the lessons learnt as a result of fuel subsidy removal by the federal government and war in Ukraine is that agricultural activities should be taken seriously.

 

“one of the lessons that the current hardship has taught us is that we must increasingly takes agriculture seriously , this will enhance food security , improve family income, strenghten our economy and make our state resilient”.

 

Governor Ahmadu Umaru said the credit guarantee scheme of the key component of the Adamawa Agro-business support programme embarked upon during his first term in the office effectively designed to take advantage of the tremendous agricultural potentials of the state for the socio economic and the growth of the internally generated revenue of the state.

 

According to the governor, almost ninety percent of the households in the state engage in one form of agricultural or the other but despite that, there is low capital investment with low capital investment, relatively low yields, little value addition, largely un organized marketing and poor income, hence the need to change the narrative and make the people and the state economically stronger through agriculture.

 

” agriculture have widely being acclaimed as the mainstay of our economy, we are blessed with vast fertile land, relatively large water bodies, huge livestock resources and fairly good climate. Added to all these is a vibrant human population of about five million people most of who are youths with the productive age bracket”.

 

Governor Fintiri stated that the credit guarantee letters issued are meant to provide free lunch to the beneficiaries , but a business undertaking that provided security to their respective banks to enable them accessed credit.

 

He therefore used the opportunity to appealed for the understanding of the people especially in relation to the high cost or scarcity of food items which had been attributed due to the removal of fuel subsidy and the war in Ukraine, adding that as a government they will always give priority to the welfare and wellbeing of the people of the state.

 

 

 

Speaking during the launch, the secretary to the state government, Auwal Tukur said upon assumption in office, the governor entrusted him with the responsibility of looking at all issues that affected the implementation of the ADAS P Programme and proffer solutions for the quick implementation of the scheme in order to deliver the anticipated benefits of the project to the communities of Adamawa state.

 

“ you specifically mandated me to ensure completion of the markets upgrade, fasttrack the processes for take-off of ease of doing business to minimize the challenges of movement of agricultural commodities faced by our commodity mercants along the major routes to markets”

 

According to Auwal Tukur, seven grain markets across the senatorial zones in the state have been upgraded while five livestock markets shall be completed by the end of this month.

 

Giving highlights of the Credit guarantee scheme, the principal consultant of Adamawa Agro-business support programme, Aminu Buhari said the objectives of the programme is to improve access to loans for beneficiaries who will like to off take farm produce in Adamawa state without collateral, reduce credit risk on lending to agribusinesses by providing guarantees, broaden and deepen the offtake of the target value chain, harmonize agri-business transactions and to serve as the catalyst to increase volume of transactions whose resultant effects is to enhance the internally generated revenue and collection.

 

He added that programme had made tremendous achievements from its commencement which included re-engineering the state finances, obtained grade rating from capital market, upgrades of twelve markets across the state, increase in the growth of internally generated revenue, launch of e-tax portal, created over two thousand direct and indirect jobs amongst others.

 

Earlier in his welcome address, the Chairman , board of directors of ADAS-P, Kashim Njidda on behalf of the ADAS-P appreciated the executive governor’s efforts and fore sight in bringing the programme to the state.

 

Kashim Njidde said the credit guarantee scheme will help in improving agri-business in as well as increase revenue gene

ration in the state.

 

 

 

 

 

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