Edo State Governor, Godwin Obaseki, has paid the counterpart fund of N147 million for the Livelihood Improvement Family Enterprises Project for the Niger Delta (LIFE-ND).
The State Project Coordinator, Mr John Omoruyi, disclosed this in a statement issued in Benin on Monday.
The Tide’s source reports that LIFE-ND is funded by the International Fund for Agricultural Development (IFAD) in collaboration with the Federal Government and the Niger Delta Development Commission (NDDC).
The LIFE-ND directly supports Nigeria’s agricultural policy and the strategic framework for youth employment and job creation.
The project is currently being implemented in the Niger Delta states of Abia, Bayelsa, Cross River, Delta, Edo and Ondo.
Omoruyi explained that the amount, meant to create wealth, sustainable jobs, and ensure food security in the participating states, covered the years 2022 to 2024.
He added that the payment of the N147 million counterpart fund would enable the state to access funds for the ongoing transformation of the rural economy via agribusiness.
According to him, Obaseki has done well to restate his commitment to the sustainable development of the agricultural sector by promoting modern farming techniques, supporting smallholders, encouraging value addition and fostering agribusiness innovations.
“Furthermore, this feat by the Obaseki administration will not only contribute to economic growth but also enhance food security, reduce poverty and empower rural communities in the state.
“This is in addition to boosting agricultural productivity and value addition across four commodities – rice, cassava, poultry and fishery value chains”, he said.
According to Omoruyi, LIFE-ND in Edo has created jobs for 2,348 women and youth enterprises out of the targeted 4,250.
He said this was across the participating 10 local government areas and 100 communities across the state.
He disclosed the release of the counterpart fund would further create employment for more than 2,500 women and youths targeted for 2024.
The state project coordinator also disclosed that the National Project Coordinator (NPC), LIFE-ND, Mr Sanni Abiodun, had commended the governor for the prompt payment of the fund.
Abiodun acknowledged the Edo Government as the first in the country to pay the counterpart fund up to date, urging other participating states to emulate Edo State.
“This is in line with the consistent desire of the federal and state governments of Nigeria and IFAD to attain sustainable job and wealth creation as well as ensure food security in Nigeria”, he said.