Governor Mai Mala Buni of Yobe state, Saturday, launched a second disbursement of $2,525,000 non-interest Community Revolving Fund loan to 101 communities and farmer groups.
Governor Buni said the Fund was aimed at driving economic growth, provide employment opportunities and create wealth.
“It is an investment revolving facility sourced by the state government for communities and farmer groups to expand agricultural developments and strengthen the role of communities in the management of their environment for economic prosperity.
“This occasion is another milestone achievement 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 the youths for maximum engagement and benefit of the Community Revolving Fund loan programme,” he said.
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,” Governor Buni added.
He charged the beneficiaries on judicious use of the loan and ensure repayment for the success of the programme to spur the government to introduce more incentives.
The governor commended ACReSAL for the smooth process of identifying and guiding the benefitting groups to qualify and benefit from the scheme.
