Abuja - The National Poverty Eradication Programme (NAPEP) and FADAMA have signed a Memorandum of Understanding (MoU) for the development of grassroots agricultural microcredit programme.
NAPEP will develop the Grassroots Agricultural Microcredit Programme in an effort to meet the needs of extremely poor and vulnerable groups through its social safety net initiative, designed to provide micro-credit funds, financial and entrepreneurial education for rural communities.
The Senior Special Assistant to the President, who is also the National Coordinator of NAPEP, Mukhtar Abubakar Balewa, revealed this in his opening speech at the signing ceremony in Abuja.
He said the project is to be piloted in twelve states of the federation.
According to him, the flagship of the programme is targeted at the upcoming dry season farming as well as the wet season, horticulture and livestock farming.
He further explained that over N100 million had been set aside for disbursement to beneficiaries and additional N1 million was earmarked for capacity development, financial education, monitoring and evaluation by all partners.
“NAPEP is partnering with FADAMA which has the track record of working at grassroots level with farmers, as well as RUFIN which has provided a list of credible microfinance institutions known for their ‘hands-on’ work with the poor. The lesson to be learnt from this pilot scheme will direct the conduct of future microcredit programmes of NAPEP,” Balewa emphasized.
Locally, "fadama" is a Hausa name for irrigable land—usually low-lying plains underlaid by shallow aquifers found along major river systems.
In addition to providing a source of water for livestock during dry seasons, fadamas also support large and diverse resident or transient wildlife including herbivores, carnivores and migratory birds.
- CAJ News