Nasarawa accept modalities for accessing a N1.5bn credit facility

Officials from the Central Bank of Nigeria (CBN), the Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL) and representatives of the Nasarawa State government met and agreed on modalities for accessing a N1.5bn credit facility, aimed at empowering youths across the state toward establishing agribusinesses. Chairman of the committee set up by the Nasarawa […]

Officials from the Central Bank of Nigeria (CBN), the Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL) and representatives of the Nasarawa State government met and agreed on modalities for accessing a N1.5bn credit facility, aimed at empowering youths across the state toward establishing agribusinesses.

Chairman of the committee set up by the Nasarawa State government to secure the credit facility and Senior Special Adviser (SSA) to the state governor on Youths, Sports and NGOs, Hon. Yakubu Kwanta, said shortly after the meeting on Wednesday at the state Ministry of Agriculture that government has both parties have agreed on modalities for accessing the loan.

He said the state government has since kick started the process of the loan disbursement, with application forms issued freely to youths from across the 13 local government areas of the state.

The SSA further disclosed that the collection of the completed forms has commenced, following which the committee will sit down and analyse critically, whether the youths that applied for the facility are qualified or not.

“Our main target are youths between the ages of 18 and 35 that are graduates of agriculture and youths that are desirous of going into agriculture,” he said.

Also speaking, Akin Ogidi, Head, Development Finance Office at the CBN Lafia branch, said the project is at the preliminary stage, with the apex bank laying out its requirements for accessing the credit facility.

Ogidi confirmed that the state government is willing to take part in the programme.

“We have deliberated and they will go and work out the modalities and we will make arrangements to proceed further.

“What we did was to tell them what they need to do and they have agreed and they are going to start work on it,” he stated.