By Governor Ahmadu Umaru Fintiri has directed the immediate conclusion of all necessary processes for the disbursement of credit facilities to livestock and grains merchants under the Adamawa State Agribusiness Support Programme (ADAS-P), giving a two-week deadline for implementation.
The programme, initially approved at ₦1 billion by the ADAS Board, has now been increased to ₦2 billion following the governor’s directive. The expansion will also double the number of beneficiaries, broadening access to traders across livestock and grains markets in the state.
Designed to provide working capital to merchants, the initiative is expected to strengthen financial transactions in key markets, enhance traders’ capital base, improve incomes, and boost the state’s Internally Generated Revenue (IGR) through the ADAS-P Credit Guarantee Scheme.
Speaking during a stakeholders’ engagement held in collaboration with Adamawa Mortgage Bank Limited and livestock merchants, the Head of Component Three of the ADAS Programme and Executive Secretary of the Adamawa State Agribusiness Financing Agency, Alhaji Musa Hammanadama, disclosed that all arrangements had been finalized to commence the pilot phase of disbursement within one week.
The meeting focused on outlining pre-disbursement guidelines for beneficiaries under the Credit Guarantee Scheme.
Chairman of the ADAS-P Implementation Committee, Dr. Ahmed Garba, reaffirmed the committee’s commitment to ensuring the smooth execution of the programme, describing it as a strategic intervention aimed at empowering traders and stabilizing the agricultural value chain.
Further clarifying the framework, the Lead Consultant and Chief Operating Officer of the programme, Alhaji Yunusa Ibrahim Gafai, explained that the facility operates on a profit-sharing model. Beneficiaries are expected to repay the loan within 18 months to allow for subsequent disbursement to other qualified traders.
Managing Director of Adamawa Mortgage Bank Limited, Malam Dauda Galadima, stressed that the facility is not a grant but a recoverable soft loan. He urged beneficiaries to adhere strictly to repayment terms and banking conditions.
In separate remarks, Chairman of the Vibrant Cattle Marketers Association, Alhaji Rabi’u, and the Sarki Tike, Alhaji Aliyu Hamman Baraya, commended the governor and the ADAS Programme for what they described as a timely intervention, pledging proper utilization and prompt repayment of the funds.
Officials added that the Credit Guarantee Scheme will later be extended to other livestock and grains markets across Adamawa State.
