FG Raises N30bn For GES Scheme

The Federal Government on Monday said that it had raised N30 billion to ensuring the success of the Growth Enhancement Support (GES) scheme across the country.
Mr Ezekiel Oyebola, the Permanent Secretary, Federal Ministry of Agriculture and Rural Development, disclosed this FG Raises N30bn For GES Scheme
at the inauguration of the scheme in Calabar.
Oyebola said the fund which, was sourced through the Commercial Banks, was one of the government’s commitment toward encouraging Nigerian farmers to embrace the programme.
``The other arrangement has to do with our paying what I can call interest drawback, which means that the farmers can get their loans from the banks at seven per cent interest.
``This is as against 15 per cent interest that the commercial banks will lend to the government.
``And we have also given the banks a guarantee of 70 per cent in case of any loan that could not be recovered,’’ he said.
He explained that the introduction of GES was meant to encourage mass participation in the procurement of inputs.
The permanent secretary further said that the GES scheme targets five million small holder farmers annually with a target of 20 million in the next three years.
According to him, more than 4 .3 million farmers have been registered across the country on the national farmers’ data base.
In his speech, Gov. Liyel Imoke of Cross River, described GES as a critical component of the Federal Government’s transformation agenda.
``It is important in a country where farmers cannot afford the cost of fertiliser due to poverty,’’ he said.
Represented by Mr Mike Ania, the Secretary to the State Government, Imoke said that GES scheme was an innovative arrangement capable of removing the difficulty usually associated with fertiliser distribution.
He gave assurance that his administration was committed to ensuring the success of GES in the state.
``As a government, we are committed to the GES scheme and would see to its full implementation in the state,’’ he said.
In a goodwill message, Mr Owali Ilem, the state Chairman of Commercial Agriculture Development Association, urged the government to ensure the sustainability of the programme.
He said this was necessary to ensure that the programme was not abandoned like past government policies.
He noted that the GES scheme was one of the best agricultural policies by the present government, adding that it would lead to increased productivity by farmers.