In a strategic move to bolster agricultural productivity and economic resilience, the Yobe State Government, in collaboration with the World Bank-funded Agro-Climatic Resilience in Semi-Arid Landscapes (ACReSAL) project, has allocated a substantial $2.525 million as a revolving fund to 101 communities across the state.

Governor Mai Mala Buni unveiled this initiative during a cheque presentation ceremony in Damaturu, highlighting its role in promoting sustainable development, enhancing livelihoods, and stimulating economic growth among farmers and rural dwellers.

“This marks another significant step in our commitment to fostering economic empowerment,” Governor Buni stated. He emphasized that out of the 7,340 total allocations, 4,825 slots were reserved for youth, ensuring their active participation and maximum benefits from the program.

The Community Revolving Fund (CRF) loan is designed to support agricultural advancement and is structured as an interest-free loan rather than a grant. ACReSAL’s National Project Coordinator, Abdul Umar, lauded the Yobe State Government for fostering an enabling environment for the initiative’s success. He further emphasized that Yobe is one of eight states selected to pilot the Community Revolving Fund scheme under the World Bank-supported project.

Alhaji Shehu Mohammed, ACReSAL’s Project Coordinator in Yobe, stressed that the fund serves as an investment tool aimed at revitalizing agricultural practices while ensuring sustainability through timely repayments.

Reflecting on the success of the previous disbursement, Governor Buni revealed that ten pilot communities in Damaturu and Nguru Local Government Areas had received $25,000 each in the initial phase. Encouragingly, beneficiaries have already begun repayments, sustaining the scheme and allowing more communities to access funds.

Governor Buni urged beneficiaries to make judicious use of the funds, emphasizing that responsible utilization and repayment will guarantee the program’s longevity and encourage the government to introduce further incentives.

Dr. Iganya Joy Agene, Task Team Leader of ACReSAL, praised Yobe State’s efficiency in project execution, attributing its success to the active participation of key ministries such as Environment, Agriculture, and Water Resources. She also commended traditional rulers for their role in mobilizing community engagement and ownership of the initiative.

With Yobe State boasting vast agricultural land, a strong farming population, and abundant natural resources, Dr. Agene highlighted the immense potential of the ACReSAL project in transforming the agricultural landscape and ensuring food security.

Umar further noted that Yobe has achieved an impressive 80% repayment rate from the first tranche of funds disbursed to the initial 10 pilot communities. This success paved the way for the expansion to 101 more communities, reinforcing the state’s commitment to poverty alleviation and economic resilience.

The initiative aims to improve agricultural yields, uplift rural farmers, and contribute to environmental sustainability. Stakeholders remain optimistic that this revolving fund will continue to empower farmers, enhance community resilience, and foster long-term economic prosperity in Yobe State.