Gov. Ahmadu Fintiri of Adamawa has begun the N5bn credit guarantee scheme for agribusiness owners in the state.
A statement by Muhammad Tukur, Senior Special Assistant to the Governor on New Media, said that the beneficiaries of the scheme would include producers, aggregators and marketers.
Fintiri, while speaking in the Government House Yola, said the scheme is one of the main components of the Adamawa Agribusiness Support (ADAS) Program.
He explained that the scheme would help the beneficiaries to access loans from financial institutions.
Fintiri appealed to people to continue to exercise patience over the hike in the price of food items, adding that his administration would continue to provide palliatives to the people to cushion the effect.
The Secretary to the State Government, Auwal Tukur, said that through the ADAS the state government has generated over N1 billion from the Agribusiness collections.
The highlight of the event was the presentation of loan letters to some of the beneficiaries of the scheme.
