Adamawa State Agribusiness Support Programme (ADAS-P) Engagement Meeting With CBN, Commercial Banks, Consultants, Offtakers & Other Stakeholders On Improving Access To Finance To Support PPP.

The management of the Adamawa State Agribusiness Support Programme (ADAS-P) has organised an engagement with the Central Bank of Nigeria (CBN), Financial Consultants and different Offtakers held at ADAS-P Conference Hall, Yola.

The meeting which focussed on improving sustainable access to finance to support public and private business, investment and revenue generation, also had a representative from the ADAS-P implementation committee, NIRSAL Microfinance Bank, and Union Bank among others.

After serious deliberation, a unanimous decision was reached to enact a technical committee that deliberated on the guidelines of the CBN, the way forward and the timeframe for the programme.

Speaking on Operationalizing the CBN Trust Fund Model to implement the ADAS Programme, the Chief Operating Officer of ADAS-P Mallam Yunusa Ibrahim Gafai who commended all stakeholders that attended the meeting, said they had earmarked over N5b Naira for the Credit Guarantee Scheme in the first tranche of the programme and is likely to make it to over 10b Naira when the second tranche of the programme kick start
to improve the level of collateralization.

Gafai emphasized the need to understand that ADAS is neither giving loans nor serving as collateral but rather playing a facilitating role and giving credit guarantees.

In an overview of the ADAS Programme, the chairman implementation committee of the programme Dr. Garba Ahmed explained that ADAS-P is a well-designed programme that will boost agribusiness in Adamawa and improve food security in the state.

Contributing, the CBN representative Mahmud Nyako who promised to forward the written guidelines for CBN, advised all stakeholders to strictly study it before reaching an agreement.