Farmers participating in the Fadama III programme in Cross River have received N324 million since the beginning of the year, the State Coordinator, Mr Bassey Elemi, said.
Elemi told the News Agency of Nigeria (NAN) in Calabar that the amount covered asset acquisition, capacity building, and provision of high quality seeds, among others.
He said that his office was currently working with 674 Fadama User Groups (FUGs) and that the number was not determined as more groups were still showing interest.
``This figure keeps changing everyday as more groups have continued to register after completing their pre-registration requirements. ‘’
Elemi said that the scaling up became necessary in the current year because the programme was expected to wind down in 2012.
He said the largest disbursement of N209.9 million was for asset acquisition because of its strategic importance for the success of the project.
“We do not only provide the input support for cultivation but also provide high quality seeds combined with technology to ensure increased production per hectare,” he said.
Elemi said N4.2million was disbursed for capacity building, while N49.2 million for small-scale community owned rural infrastructure.
He also said that the programme spent N4.2 million on consultancyservices and another N20.4 million on input support.
“We are scaling up our operations this year because we know that 2012 is a critical year for us. It is about the last year we have to disburse grants to communities,” he said.
Elemi said that the project had also introduced Fadama User Equity Fund (FUEF), meant to encourage groups to save part of their income for future use.
“It is one of the sustainability features of Fadama III, designed to ensure that the groups save at least 10 per cent of their earnings for the rainy day.
“This will provide a source of fund for each group to draw fund from time to time to expand their businesses or fund other asset acquisitions in furtherance of their activities.”
Elemi said that so far six groups had entered the equity funds scheme in the state. (NAN)
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