Nigeria Commences Payment Of N2.3m Agric Loan To Workers

VAM News Update

In a bid to boost the development of agriculture and enhance food security in the country, Federal Government in collaboration with the Bank of Agriculture, has disbursed N2.3m in agricultural liams to civil servants.

The Head of the Civil Service of the Federation, Dr. Folashade Yemi-Esan, who spoke while presenting cheques to four beneficiaries from the first batch of the Agripreneurship Training Scheme under her office’s auspices revealed that 87 officers participated in the initial training conducted in March 2023, with a second batch of 98 participants commencing training on November 20, 2023.

Yemi-Esan assured workers that her office remains dedicated to the effective implementation of the scheme.

A statement from her office on Friday noted that: “The Agripreneurship Scheme aligns with the Federal Civil Service Strategy and Implementation Plan 2021 to 2025, specifically focusing on the value proposition to enhance civil servants’ welfare and well-being for high-impact performance.

“It also corresponds with the Renewed Hope Agenda of the President Bola Ahmed Tinubu-led administration, concentrating on boosting agriculture to achieve food security.

“The programme, part of the Federal Public Service Entrepreneurship, offers civil servants a supplementary income window, aids retirees in transitioning post-service, and contributes to the development of various sectors of the economy, thereby increasing the country’s Gross Domestic Product.

“This initiative operates under a tripartite arrangement involving the Office of the Head of Civil Service of the Federation, the Public Service Institute of Nigeria, and the Bank of Agriculture.

“Their roles and responsibilities are clearly outlined in the Memorandum of Understanding to ensure the effective implementation of the scheme.

“The Head of Service coordinates the program, PSIN handles theoretical components, and the Bank of Agriculture provides credit facilities to eligible participants for business startup after training. A team of resource persons developed the curriculum.”

The statement revealed that the first batch of trainees participated in a two-week intensive training at PSIN, exposing them to various aspects of the agriculture value chain.

They were also said to have participated in structured hands-on training at selected farms within Abuja, aligning with their chosen areas of business interest.

The Managing Director of the Bank of Agriculture, Alwan Hassan, who was quoted in the statement, emphasised that the credit facility offers a single-digit interest rate of 9 per cent, with loan repayment linked to participants’ salaries.

He commended the Head of Service for the initiative, urging civil servants to engage in agricultural business as a fallback option in retirement.