Governor of Yobe State, Hon. Mai Mala Buni has approved a N500 million Agricultural loan to 4,000 teachers across the State.
According to a statement on Thursday by the spokesman of the governor, Mallam Mamman Mohammed, the loan is to be distributed in two phases is to equip the teachers to prepare and participate in the 2023 cropping season effectively.
He disclosed that each of the 4,000 teachers is to receive the sum of N120,000 to engage in agricultural production.
The governor advised the beneficiaries to use the support judiciously for the intended purpose.
The facility which is to be granted by the Yobe Microfinance Bank, is to be redeemed within 24 months through the Yobe State Ministry of Finance and, the Ministry of Local Government and Chieftaincy Affairs.
Dr. Sheriff Al-Muhajir, Managing Director of Yobe Microfinance Bank, said the project is at the final stage and would be provided before the commencement of the rainy season.
He said: “We are prepared and working on the last stage before the disbursement of the loan.
“Let me re-emphasize the position and advice by His Excellency Gov. Mai Mala Buni, CON, that the beneficiaries of this loan should use it effectively to promote food security and sufficiency” Al-Muhajir said.