FG distribute N2.2 bn to 444 Co-operative Societies

The Federal Government has disbursed N2.2 billion to the 444 Agricultural -Based Cooperative Societies in 148 Local Government Areas in the country.

The measure was part of the efforts to boost agricultural production in Nigeria.

The three agricultural-based cooperative societies selected in each of the 148 LGAs were given the sum of N500,000 each for group agricultural activities mainly for investment in enterprises along the agricultural value chain and operated through a micro-credit finance processes.

The Senior Special Assistant to the President on Millennium Development Goals, Dr. Precious Gbeneol, disclosed this in Abuja during the inauguration of the MDGs micro-credit grants to 444 Agric – based co-operative societies in 148 local government.

According to her, the initiative remained one of the pivotal strategies of her office to compliment all poverty alleviation and employment initiatives of the Federal Government.

The scheme is expected to positively improve the economic trends in the rural areas.

She however pledged that the number of the benefitting societies will be scaled up to 630 this year to accommodate other agric-based societies across the country.

Gbeneol said, “It is our expectation that with the successful launch of this initiative the 444 agric-based cooperatives in the 148 local government areas across the country, will go back to their communities to make judicious use of this opportunity accorded to them by the

committed leadership of this administration.”

Also speaking, the Chairman, House of Representatives Committee on MDGs, Mr. Al-Hassan Doguwa, warned the beneficiaries not to misappropriate the money given to them .

He said, “I want to urge the beneficiaries to use the money given to them judiciously. You should avoid the temptation of using the grant to invest in building houses and other businesses; instead you should do the right thing. You need to be committed to ensure you are fruitful in your business.”

According to him, the National Assembly was committed to ensuring that the country meets the MDGs target by 2015.

One of the beneficiaries from Sarduna LGA, Taraba State, Mr. Abraham Kaduna while expressing satisfaction for the activities of MDGs office in their state lauded the initiative .

“It is wonderful because for us in Sarduana local government any time we hear about MDGs we know that it is something genuine . It has been a success story in our local government . Most of our schools, clinics you see have been renovated by them.

“When they came on the issue of this cooperative we were highly elated because we know that when they say something it is going to be done . We are not surprise that they invited us here and say each of these cooperative societies will receive N500,000 for Agro business which is the bed rock of what we have been doing.

“You know the source of employment in the rural areas is agriculture and this thing is going to go a long way to help our people.”