Agriculture: Gombe to spend N2.1bn on intervention schemes

Saturday, April-06-2013

Development of Agriculture
Development of Agriculture

Gombe State Government is to invest N2.1bn on the development of agriculture and trade, the Commissioner of Finance, Alhaji Hassan Muhammadu, has said.

Muhammadu, who briefed newsmen in Gombe on Wednesday, also said the state government would establish a geographic information system for the state.

He said the projects were part of government’s intervention in the sectors with the aim of stimulating economic growth in the state.

According to Muhammadu, out of the amount, N1bn will be set aside as an agricultural intervention fund; N500m as trade intervention fund, while N600m will be for the establishment of the geographic information system.

The commissioner said under the agricultural intervention scheme, the state government would provide N500m while the financial institutions would also contribute N500m for the projects.

He added that the agricultural intervention scheme was in line with Governor Ibrahim Dankwambo’s vision of ensuring mechanised agriculture through groups and organisations.

He said under the scheme, the groups and associations would embark on large scale farming through a public private partnership arrangement.

To achieve that, Muhammad said the governor had directed that a leasing company should procure 200 units of tractors from Pakistan which would be used for various ventures under the scheme.

On the trade intervention scheme, the commissioner said government and financial institutions would contribute N250m each, to give to traders in the state as revolving loan.

He said that the involvement of the financial institutions in the intervention scheme was to ensure its sustainability in terms of loan recovery.

Muhammadu said that government had last year released N250 million to individuals and cooperative societies as part of its counterpart funding in an arrangement with the Bank of Industries.

However, he said that the N250m initial counterpart funding expected from the bank had not been released.

To empower youths and boost transport, the commissioner said that the state government had procured 550 tricycles which would soon be distributed.

In addition, he said that 100 taxi cabs have been purchased for distribution to empower the people. Source The Punch


Published: Zarai Media Team

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More