Business
Farmers Benefit From CBN Agric Credit Scheme
A total of 692,716 farmers secured N41.3 billion in loans guarantees within the last 33 years from the Agricultural Credit Guarantee Scheme Funds (ACGSF) of the Central Bank of Nigeria (CBN), an official has said.
The Chairman of the ACGSF Interim Management Committee, Alhaji Baba Gidado, disclosed this during a courtesy visit on Gov. Patrick Yakowa in Kaduna.
Gidado said that N6.933 billion of the amount was granted to farmers in 2009 from which 414 farmers in Kaduna State accessed N121.4 million through the four participating banks.
“ This brought the total guaranteed loans in Kaduna State from the inception of the scheme in 1978 to November 2010 to N1.29 billion.
“ In terms of loan recovery, 18,007 loans valued at N695.2 million were repaid under the scheme in Kaduna State from its inception, the chairman said.
He commended the state government for participating in the various agricultural loan schemes initiated by the CBN.
The Tide learnt that the scheme was introduced to provide capital constrained farmers with loans to increase food production.
Responding, Yakowa said farmers were not fully participating due to the lack of adequate information and inaccessibility of the facility from the CBN approved commercial banks.
He said that the state government had deposited N200 million in the four commercial banks under the Trust Fund Model conceived to reduce risk by the banks and that only one of the banks was active in lending out funds to farmers.
He said that so far, none of the banks had released up to N100 million to the beneficiaries and appealed to the CBN to re-visit the programme to enable the banks become more active in the programme.
The governor pledged to support the scheme as 80 per cent of the people of the state were farmers who needed financial support to increase production.
Yakowa, who was represented by his Deputy, Alhaji Ramalan Yero, directed the Commissioner for Finance and the Permanent Secretary in the Ministry of Agriculture to discuss further with the officials of the scheme for better collaboration.
Business
Kenyan Runners Dominate Berlin Marathons
Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.
Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.
The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.
Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.
“I did my best and I am happy for this performance,” said Sawe.
“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”
Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.
In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.
Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.
Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.
Business
NIS Ends Decentralised Passport Production After 62 Years
Business
FG To Roll Out Digital Public Infrastructure, Data Exchange, Next Year
-
News4 days ago
FG Unveils AI Model For Local Languages
-
online games3 days ago
The Benefits of Family Digital Libraries
-
Sports5 days ago
Nathaniel hopes to inspire young Nigerians after feat
-
Oil & Energy4 days ago
Oil & Gas Growth: NCDMB Tasks African Nations On Unity
-
Politics4 days ago
Kwankwaso Agrees To Rejoin APC, Gives Terms, Conditions
-
Maritime4 days ago
Minister Tasks Academy On Thorough-Bred Professionals
-
News4 days ago
You’re My Steady Confidant, Tinubu Celebrates Wife At 65
-
Sports5 days ago
Nigeria Cricket Federation Re-Elects Akpata President