Finance

Abia sets aside N1bn for loans to farmers

As Abia state sets aside N1 billion loans for it farmers, it has been revealed that  121,000 farmers in the  state will be benefiting from  the Federal government’s  Growth Enhancement Support Scheme (GESS) this year.

Minister of Agriculture, Dr. Akinwumi Adesina, who made this known  at the flag-off of the GESS in Umuahia  last week , said about 5million  farmers are targeted this year under the program.

While commending the Abia State government  for paying up its counterpart funding, the minister recognised the challenge of creating incomes and increasing “benefits for all our farmers.”

The amount of incentives for farmers in the states, he said, is such that “each farmer will pay 50 per cent of N88,000 for each package of inputs.”

Recognising that Abia State produces the best cocoa farmer, the minister announced the release of eight new varieties of cocoa hybrids which will be yielding 2 tonnes per hectare as opposed to the 0.04 tonnes per hectare, a difference he said was more than fivefold. “We are distributing 25,000 pods of these hybrids for farmers in Abia State for free,” he promised.

Dr. Adesina disclosed that $136 billion would be earned this year from cassava chips’ export. One of those poised to be involved, he indicated, was Eze Philip Ajomiwe. The conversion of residential houses to commercial or the earnings and wages, he reasoned, are inadequate in meeting our agricultural expectations.

Chukwu Wachukwu, a consultant on the loan and chairman of the occasion, wants prospective beneficiaries to “identify agricultural opportunities in every local government area,” using the input supply system in applying the funds and the off-takers’ system to administer the funds. Wachukwu said Abia State aims at over 62,000 tons of cassava tubers processing as well as 1,750 tons of rice and 2,250 crates of eggs daily.

The state’s commissioner, Ike Onyenweaku, was expecting agribusiness breakthroughs, stressing that “our extension services will be re-integrated to offer useful services to our farmers.” Onyenweaku noted that a huge investment is coming into agriculture in Abia and this is just about to begin as the state would become of those to reckon with in agricultural productivity.

Governor Theodore Orji of Abia State gave reasons for signing an MoU with the Federal Ministry of Agriculture, saying the “MoU will guarantee the collaboration of the federal government and Abia State that will ensure the implementation of the Agricultural Transformation Agenda in Abia.” He stressed self-sufficiency in food production as “a panacea for sustainable democracy and economic growth.”

In Abia, Orji said, “we are interested in technologies, research and everything that will improve agriculture, employment generation and food security.” Addressing the farmers at the rally, the governor said the state government has given a “surety” the loan beneficiaries. He encouraged them to pay back the loans.