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 Anambra gets N3bn CBN grant for agric, SMEs

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PostSubject: Anambra gets N3bn CBN grant for agric, SMEs   2016-11-04, 15:30

Governor Willie Obiano of Anambra State on Friday said the state had secured a N3bn grant from the Central bank of Nigeria to invest in SMEs and agriculture.

Obiano made the disclosure at the flag-off of training for the first batch of 150 youths at the Federal Youths Training Centre, Mgbakwu near Awka.
He said the grant would be shared to medium and small scale entrepreneurs and farmers in the state.

According to the governor, the amount was approved due to the effective use of a similar grant of N1.5bn to agriculture in 2015.

He said that the new grant would be used to finance small businesses and entrepreneurship development in the state.

Obiano said this was in view of the fact that increase spending by federal and state governments in strategic sectors was the most viable option to pull the economy out of the current recession.

The governor urged individuals to acquire marketable skills and engage in agriculture as these were the best options that could put the economy on the path to prosperity at this moment of recession and inflation.

Obiano said that Anambra was doing well in agriculture, adding that 30 trailers of rice and 100 trucks of vegetables were being moved out of the state daily.

He said the training scheme was wholly free with a take-off package of maximum of N500, 000 for successful youths who were found worthy after the three months training.

He said, “We have to pump money into the economy and not the other way round; that is what we are doing through our investment in agriculture and empowerment off these youths in contemporary skills.

“This Federal Youth Centre will continue to get our attention, it had been abandoned since 2008, but we have revived it and are determined to make it effective.

“Every year, we shall have over 1,000 youths trained and empowered here.”

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