Emerging reports has revealed that 101, 449 Nigerians, comprising farmers and agribusinesses benefited from the £53.9 Euros project of the German Government’s programme implemented by the Transformation of Agri-food Systems ( TAFS) GIZ Nigeria and ECOWAS and other partners.
This disclosure was made by the Head of Project, AgFin Nigeria, Ruskiyat Badmus who spoke in Abuja on Thursday at the National Close-Out Event of the ” Global Project Promotion of Agricultural Finance for Agri-based Enterprises in Rural Areas in Nigeria ( GP AgFin).”
She stated that the eight years Project executed in 10 states of Benue, Cross River, Kebbi, Nasarawa, Plateau, Kaduna, Kano, Oyo, Ogun and FCT has helped supported farmers and agri-businesses across maize, rice, cassava, potatoes, poultry and aquaculture.
She also noted that the money was disbursed to the beneficiaries as loan by various financial institutions that partnered with them without guarantees or warranties.
According to her, the eight years Project was targeted at developing the potential of smallholder farmers, especially women who constitute a large farming population in many rural communities across the country.
She said, “AgFin demonstrated that agricultural enterprises can become viable clients for financial institutions when lending is based on a better understanding of their businesses, cash flows, production cycles, and risks.
” 101,449 users , comprising farmers and agribusinesses have accessed adapted financial products and services offered by AgFin partner financial institutions, with 150,300 transactions recorded.
” £53.9m Euros( approximately N61 billion) has been disbursed by AgFin’s partner financial institutions to farmers and agribusinesses without guarantees or warranties from AgFin”, she added.
Also Speaking, Dr. Andrea Rùdiger, Sector Coordinator, Rural Development & Agriculture Transformation of Agri-food Systems ( TAFS) GIZ Nigeria and ECOWAS said, ” it is important to clarify that the conclusion of the project does not signify the end of the work.
” The true measure of this project’s success will not be what was accomplished during its lifetime, but whether farmers and rural enterprises across Nigeria continue to access better financial services ling after this booklet has been read and set aside”, she stated.
Also, the Head of Development Cooperation, German Embassy, Abuja, Dr. Karin Jansen disclosed that her country would continue to support development programmes that enhance human dignity and existence in Nigeria.
She equally called on beneficiaries of the GIZ implemented project to ensure that the gains recorded were sustainable and also transferred to support overall economic growth and food security.
