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

Adamawa traders urged to embrace Credit Guarantee Scheme

By

Babangida Galleon

 

Traders in Adamawa state have been advised to embrace the Credit Guarantee scheme of the Adamawa Agro-business support programme.

 

 

This advice was given by principal consultant of the Adamawa Agro-business support programme, Malam Aminu Buhari during a sensitisation workshop for beneficiaries of the credit scheme who are also the leaders of grains and cattle markets across the state, which took place in Yola, the Adamawa state capital.

 

Malam Aminu Buhari Said the essence of the workshop is to engage with the preselected beneficiaries of the credit guarantee scheme for the pilot program, and train them so that they could step down the acquired knowledge to their members.

” this particular group of people that we engaged today are the entire leadership of grains and livestock association ”

 

Malam Aminu Buhari Said the beneficiaries were trained on how to understand the mechanisms of the guarantee credit scheme because that will give them the clear picture of how the scheme operates.

 

The principal consultant described the engagement as robust, saying it will definitely help in simplifying the operations of the scheme as well as instill confidence in the minds of the traders, adding that by next week, the scheme will move to the next stage which is the documentation stage where all parties involved would sign all the relevant documents.

 

While emphasizing that the essence of the credit guarantee scheme is to upscale the existing businesses of the people, malam Buhari Said there is limit for the funds to be accessed by an individual or a sector as contained in the guidelines.

 

He therefore called on the beneficiaries to take advantage of this opportunity and grow their businesses for the growth and development of the state.

 

The credit guarantee scheme administrator, Umar Abubakar Said the primary function of an administrator in this scheme is profiling all information of parties involved, create data base and ensure that all records are intact for the purpose of transparency and accountability.

 

” our function is do all administrative work, ensure that everything that is been purchased is been captured ”

 

Also , the collateral managers of the grains and livestock(??? something is missing) Abdulrasheed Mohammed and Doctor Faisal who said their responsibilities are quality assurance as well as logistics, explained that they will be active throughout the whole processes in order to ensure that the interest of parties involved are equally and adequately protected.

 

” part of our contribution on this credit scheme is to ensure that every player in the value chain meets up with their responsibilities ”

 

Some of the beneficiaries who spoke to Radio Nigeria expressed optimism that the credit guarantee scheme will indeed help them boost their businesses, provide more jobs as well as revenue for the state government.

 

In her vote of thanks, the admin secretary Adamawa Agro-business support programme, Joy Tarfa, thanked the participants for attending the workshop and urged them to use the guarantee credit scheme to improve their businesses for the development of the state.

 

 

The credit guarantee scheme, under the Adamawa Agro-business support programme was officially launched by governor Ahmadu Umaru Fintiri on 14th September, 2023 with about five billion naira to be access by businesses in the state so as to improve economic activities, create more jobs and generate revenue for the state government.

 

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