By Abdullahi Lukman
The Yobe State Government, in collaboration with the World Bank-assisted Agro-Climatic Resilience in Semi-Arid Landscapes (ACReSAL) project, has launched the disbursement of $2.525 million interest-free community revolving fund loan to support 101 communities and farmer groups across the state.
This initiative is part of the state’s ongoing effort to drive economic growth, reduce poverty, and promote sustainable development in the agriculture sector.
The loan, designed to be repaid with no interest, aims to provide vital financial resources to farming communities, enabling them to invest in agricultural projects and improve their livelihoods.
The program is also expected to create job opportunities, particularly for youth, and contribute to wealth generation in rural areas.
At the launch, the State Governor Mai Mala Buni highlighted the transformative potential of the loan, noting its significance in empowering local farmers and entrepreneurs.
“This interest-free loan is a vital step toward driving economic growth in our state, providing employment opportunities, and creating wealth for our people,” Governor Buni said.
In a move to ensure youth involvement, the governor announced that 4,825 of the total 7,340 loan slots would be allocated specifically to young people.
This decision, he said, aims to encourage the active participation of youth in agricultural ventures, equipping them with the resources needed to become self-sufficient and contribute to the state’s agricultural sector.
Governor Buni urged the beneficiaries to make responsible use of the loan funds, stressing the importance of timely repayment to ensure the program’s continued success and sustainability.
He also mentioned that successful repayment would pave the way for future incentives and additional funding for participants.
“We have a duty to work together to overcome economic, environmental, and social challenges, ultimately improving the lives of our people and advancing the development of our state,” Buni said.
The governor also acknowledged the role of the ACReSAL project in identifying and guiding the eligible communities and farmer groups to ensure they met the necessary qualifications to benefit from the loan scheme.
He commended the project’s smooth implementation process, which he said has been crucial in ensuring that the fund reaches those who need it most.
Looking to the future, Governor Buni reiterated the state’s commitment to fostering stronger partnerships with the federal government, international donors, and development partners.
He emphasized that such collaborations are key to improving infrastructure, livelihoods, and overall quality of life for residents of Yobe State.
