Hamza Idris
5 October 2008
Damaturu — Yobe Savings and Loans Limited and the Gashua Community Bank Limited have received over N113 million from the Yobe State office of the National Agency for Poverty Eradication Programme (NAPEP) for onward distribution to 85 cooperative societies.
The cooperative societies were drawn from the 17 local government areas of the state as a way of empowering them to establish small scale businesses.
Speaking to newsmen in Damaturu, the state coordinator of NAPEP, Alhaji Dauda Mai Adamu Gulani said 92 cooperative organizations had presented proposals for loan to participate in the Village Economic Development Solution (VEDS) programme but only seven could not scale through due to some abnormalities in their submissions.
He said that the benefiting cooperative societies would invest the money in different sectors of the economy, including fishing, groundnut oil milling, animal fattening, and tractor hiring services, among others.
Gulani added that additional N6,450,000.00 have been deposited with the two micro finance institutions and would be distributed to 500 beneficiaries for the Care for the People (COPE), a conditional cash transfer programme for six months.
"For the COPE programme, there are 10 local governments from the three senatorial districts of the state who would benefit. In each of the LGA's, 10 villages would participate and in each village, there are five beneficiaries and therefore, we would have 500 beneficiaries in all", he said
"Those selected include the blind, widows and leper and the indigent aged. The condition attached to their selection is that, they would invest the money in the education or health of their children. They must have their children in school in order to access the money.
"All the cooperative societies are making necessary documentation with the micro finance institutions and they would have access to their money thereafter, while the vulnerable groups would also get their own in cash after the break", Gulani added.
Be the first to Write a Comment!
Copyright © 2008 Daily Trust. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.
AllAfrica aggregates and indexes content from over 125 African news organizations, plus more than 200 other sources, who are responsible for their own reporting and views. Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica.
