KWSG ‘ll boost economy through PPP – Gov Abdulrasaq


By Matthew Denis

The Kwara State Governor AbdulRahman AbdulRazaq has said the state government has plans to enhance several developmental initiatives through the Public Private Partnership (PPP).
The Governor made the disclosure on Friday when the board of Agricultural Credit Guarantee Scheme Fund (ACGSF) visited him in Ilorin, the state capital.
According to him the best way to eradicate poverty is to cultivate more lands for agriculture.
He said “If we really want to rise above the poverty line, the way to do that is through agriculture to boost the economy. There is a need for renewed focus on agriculture and agro processing,” he added.
The Governor stressed that Kwara is located in a part of Nigeria where land is arable.
“We hope to make you our partner in progress (to drive agricultural growth). We hope to work with you immediately.”
He therefore called for more enlightenment on the activities of various government initiatives to support agriculture, saying not many people are aware of the opportunities that are available with the ACGSF.
Speaking on the purpose of the visit, chairman of the board, Okokon Udo, said the scheme encourages banks to lend to farmers by providing guarantee for loans for crops and livestock production and processing.
“It mitigates risks associated with banks’ lending to agriculture through formal assurance to pay banks 75.0 percent of the net amount in default in accordance with the provisions of the enabling Act,” Udo said.
He added that while Kwara is the third state with the highest number of loans from the scheme, there is a need to further enlighten the public on the advantages of accessing the facilities to “empower themselves and enhance their agricultural activities and income-earning capacity.”

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