Gov. Buni disburse $2.5m to 101 Communities/Farmer groups

Yobe state Governor Hon. Mai Mala Buni CON has launched a second disbursement of $2,525,000 non-interest Community Revolving Fund (CRF) loan to 101 communities and farmer groups in the state.

Governor Buni said the Non interest Community Revolving 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 achieved 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.

“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” Gov. 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.

“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”.

The Governor commended ACReSAL for the smooth process of identifying and guiding the benefitting groups to qualify and benefit from the scheme.

He reiterated the readiness of Yobe state government for more partnership with the federal government and other partners to make life more meaningful to the people.

Dr. Iganya Joy Agene, Task Team Leader of ACReSAL, commended the Yobe state team for their exceptional efficiency in the project implementation.

She noted that the commissioners and permanent secretaries of state ministries of Environment, Agriculture, and Water Resources are playing vital role in driving the project forward. Their support, she emphasized, was instrumental in achieving the results on ground.
Dr. Agene also acknowledged the significant contribution of traditional rulers in fostering community participation and ownership. Their influence, she observed, helped to create a sense of belonging among community members.

Yobe State, she pointed out, is endowed with vast land resources, a significant agricultural population, and an abundance of natural resources. These factors, she noted, position the state favorably to achieve the objectives of the ACReSAL Project.

The success of ACReSAL in Yobe State, Dr. Agene attributed largely to the leadership of the Executive Governor. She highlighted the project’s impressive results across various interventions, with the CRF being a crucial component that has the potential to impact all 17 local government areas.

Dr. Agene emphasized the need for efficient use of CRF resources, transparency, ensuring that funds are disbursed to the right beneficiaries, and demonstrating tangible results and impacts.

Abdulhamid Umar, National Project Coordinator, ACReSAL in his remarks noted that the Community Revolving Funds (CRF) initiative of the ACReSAL Project aims to support the poor and farmers in rural areas.

According to him, Yobe State was among the 8 pilot States in ACReSAL to implement the CRF, successfully disbursing the first tranche of funds to uplift the poor, improve agricultural yields and contribute to sustainable environment.

Umar said that Yobe State has achieved an impressive 80% success rate in loan repayment in the first tranche to the initial 10 communities.
Today, we have again disbursed CRF to 101 communities in Yobe state, demonstrating commitment to poverty reduction and building community resilience.

He called for the judicious utilization of the funds to ensure distribution to more farmers and maximize economic and environmental impacts.

He extended gratitude to the Executive Governor for his support, which has been crucial to the project’s success.