Governor Buni directs over 4,000 slots for community revolving funds to youths in Yobe.

Governor Buni directs over 4,000 slots for community revolving funds to youths in Yobe.

By: Yahaya Wakili

Governor Mai Mala Buni, CON, of Yobe state, has directed the allocation of 4,825 slots out of the total 7,340 slots to the youths for maximum engagement and benefit of the Community Revolving Fund program.

The governor gave the directive today while launching the disbursement of a $2,525,000 non-interest Community Revolving Fund loan to 101 communities and farmer groups in the state.

He maintained that the launch of the first phase of the Community Revolving Fund loan last year, 10 pilot communities in Damaturu and Nguru local government areas received $25,000 (#32, 500,000.00) each.

“Reports reaching my office indicate that the benefitting communities and farmer groups have made good use of the facility and commence the repayment to sustain the revolving schemes and to afford others the opportunity to benefit,” Buni said.

He urged the benefitting communities and farmer groups to take full ownership of this and other government programs for maximum benefits to justify government investments in said projects.

“It is a non-interest loan that is to be repaid by the beneficiaries for a continuous financing of the program to expand the volume of beneficiaries through the revolving scheme.

Speaking earlier, ACReSAL project coordinator in the state, Alhaji Shehu Mohammed, revealed that the Community Revolving Fund (CRF) is not a grant but an investment fund that comes in the form of a “LOAN” aimed at revitalizing the agricultural practices.

He said this loan is for the communities and will circulate within farmers and be sustained through groups that would keep the loan in circulation in their various communities through prompt repayment to allow other farmers to benefit.

According to him, Yobe state is among the 8 piloting states selecting only 10 pilot communities from the two micro watersheds of Nguru and Damaturu.

Governor Buni directs over 4,000 slots for community revolving funds to youths in Yobe.