Niger Delta
C’River Ratifies Agric, Wealth Creation Schemes
The Cross River State Executive Council has ratified two programmes
targeted at boosting the rural economy and create wealth.
They are ‘Project Awake’ and the ‘Cross River State
Government/Bank of Industry Fund for Medium and Small-scale Industries’.
Special Adviser, Investment Promotion, Mr. Gerald Adah, who
disclosed this to newsmen in Calabar said these projects were focused on
meeting MDGs 1 and 3 and were targeted at poverty reduction and balancing while
their beneficiaries will be trained, monitored and provided with access.
Adah explained that Project Awake is an agricultural
programme to be undertaken by Ministry of Social Welfare, Micro Enterprise
Development Agency, Micro Enterprise Development Agency (MEDA) and Partnership
Opportunities for Women Empowerment Realization (POWER) while the Cross
River/Bank of Industry Fund will be handled by First Bank and its funding
monitored by a reputable financial institution.
He disclosed that N400 million out of N1.2 billion had been
made available for Project Awake as a pilot scheme, while an initial N500
million had been provided for Cross River/Bank of Industry Fund depending on
the capacity of the people to access funds.
The Special Adviser said the state government spent 12
months to appraise agriculture and small/medium scale industries in rural areas
and found out that women were more prudent and paid back their loans so we felt
there was need to encourage them to grow more food and create additional value.
Adah,explained that by increasing productivity, new
businesses would key into the programme especially in cassava, plantain and
rice production and that the programme is focused on women in agriculture.
He, therefore, enjoined Cross Riverians to key into the
project as it was envisaged to be implemented in all local government areas as
according to him, 70 per cent of rural farmers are women and they sustain their
house hold.
On Cross River/Bank of Industry Fund, Adah said counterpart
funding would be made available by Central Bank of Nigeria and Bank of Industry
with low interest rate and commission that business men can access than
commercial banks, adding that the loan, which is well structured to support
purchase and importation of equipment, has a gestation period of two years.
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