U.S. Disburses $30m
Agricultural Loans To Nigerians
The United States Ambassador
to Nigeria, Ms. Robin Sanders has said that about $30 million in
credit have been disbursed in the last one year to small and
medium size enterprises and agribusinesses under the umbrella of
public-private partnerships (PPP) to boost the private sector in
the country.
Sanders, while delivery a keynote address at the Inaugural Isaac
Moghalu Foundation (IMOF) lecture and symposium, at the Nigerian
Institute Of International Affairs (NIIA), Lagos on Wednesday
said "we have established partial loan guarantee programs with
commercial banks to provide more than $30 million in credit to
small and medium size enterprises and agribusinesses so that
increased agriculture yields reach to markets efficiently"
She added "We implement our programs in full support of-and it
coordination with Federal, State, or Local Governments, as well
as civil society, NGOs and academics".
Sanders who agreed that poverty is perhaps the greatest
challenge facing Nigeria today said "we all recognise the
starting point for poverty here in Nigeria, but what are we
doing is to begin with investing in people because they are
center piece as well as the pillar of the United States'
partnership with Nigeria to alleviate poverty".
“In Support of 7 Point Agenda”
Recalling that the 7-Point agenda of President Umaru Yar'Adua is
a pilot framework that will transform the economy, Sanders said
"We also applaud President Yar' Adua's 7-point agenda, which
prioritises wealth creation in the agricultural and solid
minerals sectors, and raises the importance of food security,
land reform, and education as poverty-fighting measures"
She added that "I have organised the U.S. Mission's strategic
program goals and objectives to support this agenda under the
'U.S. -Nigerian Framework for Partnership”.
According to Sanders, as part of the measures to curb food
crisis, President Bush in April 2008 announced $200 million to
address the recent food security issues in Africa.
She, however, said that the U.S. Mission through the U.S. Agency
for International Development is increasing cassava yields and
agricultural incomes for 300,000 farm households in 11 South
East and South-South states, thereby creating 60,000 new jobs in
cassava processing, manufacturing and trading.
She, however, said in the spirit of PPP, US Mission has worked
with Nigeria's dynamic banking sector with leading entities like
Bank PHB and Skye Bank on an export credit programme.
NP/MICHAEL
