ANAMBRA FLAGS OFF N1B COMMERCIAL CREDIT SCHEME LOAN

The distribution of the One Billion Naira Commercial Agricultural Credit Scheme has been flagged-off by Governor Peter Obi. The ceremony which took place at the Women Development centre, Awka attracted farmers from all parts of the State. The loan, initiated to promote commercial agricultural enterprises has a maximum tenor of seven years and allows for one year moratorium and 9.4 percent annual interest rate.   Governor Peter Obi in his speech said necessary measures had been taken to ensure that only genuine farmers benefitted to achieve the desired goals, as the beneficiaries were selected by All Farmers Association of Nigeria.   Governor Obi said the State was playing fundamental role in the present efforts to achieve ford security and reduce burden of importation in the country as Omor Rice mill and another Rice mill to be sited at Ebenebe,  Awka North would be well repositioned to ensure self sufficiently in Rice production.   The Permanent Secretary, Ministry of Agriculture, Mr. Andy Umeobi said the Scheme would help to increase Agricultural output, generate employment, diversify the revenue base, increase foreign earnings and provide necessary raw materials for agro-based industries.   The Chairman of All Farmers Association of Nigeria (AFAN), Chief Nnamdi Mekoh said the flag off of the Scheme marked a turning point in the development of Agriculture in the State. He noted that Governor Obi through the Scheme has touched over ten thousand farming families and reduced by over thirty percent the state dependency on other states for food needs. He assured that the funds will be judiciously utilized.   Some of the beneficiaries who spoke to ABS, Mrs. Amaka Odunukwe and Mr. Samuel Nwafor expressed gratitude to the Governor and assured that they will deliver.   The Minister of Agriculture, Dr. Adewunmi Adesina,  represented  by  Uche Nwafor commended the efforts of the Governor for being the first to key into the Agricultural Transformation Agenda of the State