FG Empowers Civil Servants with Agricultural Loans

The Federal Government, in collaboration with the Bank of Agriculture, has initiated a substantial drive to bolster agricultural development by disbursing N2.3 million in agricultural loans to civil servants.

This effort aims to fortify the agricultural sector and ensure enhanced food security across the nation.

Dr. Folashade Yemi-Esan, the Federation’s Head of Civil Service, revealed the payout while delivering cheques to four recipients of the initial batch of the Agripreneurship Training Scheme run by her office.

She highlighted the scheme’s success by revealing that 87 officers were trained in March 2023, with another 98 beginning training on November 20, 2023.

The initiative, which is connected with the Federal government Service Strategy and Implementation Plan 2021-2025, serves as a pillar to promote the welfare and performance of government officials.

It is consistent with President Bola Ahmed Tinubu’s Renewed Hope Agenda, which focuses on agricultural innovation to improve food security and economic growth.

The initiative, which is run by the Head of Civil Service of the Federation, the Public Service Institute of Nigeria, and the Bank of Agriculture, aims to diversify income sources for civil servants, support post-retirement transitions, and contribute to economic sector development, thereby increasing the country’s GDP.

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The scheme ensures an effective implementation strategy outlined in a Memorandum of Understanding, with the Office of the Head of Service coordinating the program, the Public Service Institute of Nigeria handling theoretical aspects, and the Bank of Agriculture providing credit facilities for business startup post-training.

The intensive program comprises theoretical components at PSIN as well as hands-on experience at selected farms in Abuja, customized to participants’ preferred sections of the agricultural value chain.

Alwan Hassan, the Managing Director of the Bank of Agriculture, highlighted the single-digit interest rate of 9 per cent for the credit facility, emphasizing that loan repayment is linked to participants’ salaries. He lauded the initiative and encouraged civil servants to consider engaging in agricultural ventures as a viable post-retirement endeavor.

This initiative signifies a concerted effort by the Federal Government to empower civil servants, foster entrepreneurship, and enhance national agricultural growth for sustainable economic development.