United Young Farmers Forum (UYFF) has
secured a loan of N10 billion from First City Monument Bank (FCMB) to
empower 10,000 young farmers in the country.
President of the association, Mr
Orimadegun Wilson, told the News Agency of Nigeria (NAN) on Sunday in
Abuja that a pilot phase of the scheme with farmers fron the from the
North West and North East geo politicaal zones during this farming
season..
Wilson, who said the loan was derived
from FCMB, said the pilot phase was started from the two regions
because theof the enthusiasm shown by the prospective participants in
the region.
He added that 75 per cent of the loan
guarantee would be covered by Nigeria Incentive-Based Risk Sharing
System for Agricultural Lending (NIRSAL), while 25 per cent of the
risk would be borne by UYFF.
According to him, beneficiaries are
expected to deposit one per cent of whatever was collected to NIRSAL
to serve as collateral, adding that the repayment period was one year
from the time the beneficiary’s crops mature.
He also said that the organisation will
make a presentation on Bio Organic fertilizer at a joint Federal
Government of Nigeria and International Fund for Agricultural
Development (IFAD) mission from May 1 to May 12.
He said that the presentation, which
would hold in Katsina, was in line with the Climate Change Adaptation
and Agribusiness Support Programme (CASP).
“UYFF, a Non Governmental
Organisation (NGO) is a coalition of young farmers in Nigeria,
focused on building the capacity of young people interested in
agribusiness.
“We believe agribusiness is the
future for Nigeria, our vision is to create a new generation of
farmers who will create wealth, jobs and ensure food and nutrition
security in Nigeria.’’
Wilson also said that the organisation
was in partnership with other organisations to build the capacity of
the youth in Nigeria.
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