Niger Delta
C’ River Youth Urged To Form Cooperatives
Youth in Cross River
State have been urged to form co-operative societies to enable them access the N400 million loan floated in the state by the Bank of Agriculture (BoA).
The Special Adviser to the Governor Liyel Imoke of Cross River on Investment Promotions, Mr Gerald Ada, made the call in Calabar recently.
Ada told newsmen that not up to N200 million of the funds had so far been accessed by residents of the state.
He said there was the need for youths to access the funds in order to set up their own businesses and become self-reliant and employers of labour.
“We are also urging those who graduated from the South-South CBN Enterprises Development Centre in Calabar to avail themselves of this opportunity to set up their businesses,’’ the government official said.
He said his office, in collaboration with the state’s Medium Enterprises Development Agency, was working with various organisations to sensitise the youths on the need to assess the fund.
The special adviser said the state government was very passionate about raising entrepreneurs in the state, in order to grow the state’s economy and make the citizens self-reliant.
“Individuals who do not require above N250,000 for their agricultural ventures can access the fund, provided they meet the requirements,’’ he said.
Ada said the BoA loan was one of the many loan schemes initiated by the state government, in conjunction with banks, to help the youths.
He said the loan schemes were already yielding results.
“There are many other loan schemes put in place by government, including the N500 million Bank of Industry (BoI) loan, and other micro-credit schemes with other banks.
“The results of these schemes have been modest and we recognise that more needs to be done to achieve the economic viability of our young population,’’ the special adviser said.
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