Food security: NDE begins disbursement of soft loan for agribusiness in Taraba

The National Directorate of Employment NDE through the rural employment promotion department on Wednesday commenced the disbursement of soft loans for agribusiness and implementation of the SADTS, CBAES, GAES, SADES, and AES for trained youth in Taraba.

Alhaji Danjuma Shehu, the program state coordinator while flagging off the disbursement in Jalingo, disclosed that the implementation of the 50% budget release of the 2022 SADTS, CBAES, GAES, SADES and
AES through the Rural Employment Promotion (REP), the department has successfully implemented several cycles of the program.

According to him, the soft loan with 9 percent interest, is to be paid back within 3 years, with 6 months’ grace before the commencement of the payment.

Shehu explained that the idea was to assist in empowering the graduated trainees to engage in the agribusiness of their choice along their value chains of production, processing, packaging, Marketing, and Consumption.

“For over the years, many of the trainees who passed out of the scheme have not received assistance to start their own agric-business. In an attempt to stem this trend and gives hope with an improved livelihood to the graduated trainees, the Rural Employment Promotion (REP), the department has decided to design and implement the SADES, CBAES, GAES, SADES, and AES to engage the graduated trainees across the 16 local government areas of Taraba state.

“The schemes will assist in the empowerment of the graduated trainees with soft loans to engage in agribusiness of their choice along their value chains of production, processing, packaging, Marketing, and Consumption. The schemes will also create jobs, improve income and enhance the standard of living of the graduated trainees, reduced poverty, and create wealth.

“The REP department is targeting the graduated trainees to drive rural economic growth, create wealth ensure food security, enhance environmental sustainability and reduce rural-urban drifts.
“The N100,000 loan per trainee attracts an interest of 9% and has a moratorium period of
Six months before you would start paying back with a loan repayment
period of three (3) years. 42 trainees have been selected for this set of disbursement, It is important to emphasize to you that, it is not a national cake, paying back the loan would create an opportunity for others to as well benefit and boost your chances for a higher loan” The state coordinator explained.

Meanwhile, Mallam Abubakar Fikpo, the Director General of the Directorate, represented by Hauwa Ibrahim Bassi the Senior Ruler Employment Promotion Officer, appealed to beneficiaries to see the loan as a life-changing opportunity, as they are expected to use the money for the purpose intended.

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Food security: NDE begins disbursement of soft loan for agribusiness in Taraba