CBN Targets 370,000 Youths In Accelerated Agricultural Scheme

CBN Targets 370,000 Youths In Accelerated Agricultural Scheme


In a related development, the Central Bank of Nigeria (CBN) has said it hopes to engage a minimum of 370,000 youths in agricultural production across the country over the next three years in order to reduce unemployment among the youths in the country.

The plan is to be driven through the Bank’s initiated Accelerated Agricultural Development Scheme (AADS).

The programme specifically targets Nigerian youths within the ages of 18 to 35 years. It is to be funded by the CBN and also serve as its managing agent.

“The objective of the AADS is to increase agricultural production towards food security, job creation and economic diversification”, the apex bank said in guidelines for the programme posted on its website yesterday.

Under the programme, state governments are expected to mobilise prospective young farmers with representation from all Senatorial Zones, allocate 2-5 hectares of land per beneficiary and charge a rental on land (Maximum of N10,000 per ha) to defray the cost of land clearing and other infrastructure provided.

The beneficiaries would be responsible for the management of the farm and provide a third party guarantor for repayment of financing facility among other requirements.

According to the new guideline, any participating financial institution (PFI) that fails to disburse the fund within the stipulated days of receipt to the borrower will be charged a penalty at the PFI’s maximum financing rate for the period the fund was not disbursed. The Bank also warned that failure to remit repayments received to CBN within the stipulated period shall attract penalty at the PFIs maximum financing rate.

I Have PMB’s Nod To Proceed With Recruitment Exercise


President Muhammadu Buhari has given minister of state for Labour and Employment, Festus Keyamo, the go-ahead to continue with the plan of recruiting 774,000 Nigerians under the Extended Special Public Works progamme (SPW) despite protest by the National Assembly.

The minister, who confirmed the development to journalists in Abuja yesterday, said he has the fresh instruction of Mr President to proceed with the recruitment exercise.

In his words: “I have fresh instructions to proceed with the program as directed by him and to continue to supervise the program in accordance with the law. I stress it, in accordance with the law.”

Meanwhile, when reached out to the Senate spokesman, Senator Ajibola Basiru, for a reaction to the development, he declined comment, saying he cannot exchange words with the junior minister of Labour and Employment in order not to disrespect the president.

It is, however, expected that the Senate might formally react before the end of today through the Senate poresident, Ahmad Lawan, or Senator Basiru.

President Buhari had approved the engagement of 774, 000 Nigerians under the Special Public Works programme of the National Directorate of Employment to cushion the effect of COVID-19 pandemic.

But following a disagreement between members of National Assembly and the minister of state for Labour and Employment, Keyamo, on the modalities for the recruitment, the National Assembly called for a suspension of the process.

Trouble started when lawmakers queried Keyamo for allegedly undertaking lopsided recruitment without the active involvement of the NDE, the agency that got N52 billion approval from the National Assembly to implement the programme.

The argument that ensued afterwards led to a shouting match between both parties which later degenerated to the forceful exit of Keyamo from the meeting.





  1. Reply

    This will be good if they can do it

  2. Reply


  3. Profile photo ofYusuf



  4. Reply


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  6. Reply

    That’s a good one

  7. Reply

    It’s so nice to know

  8. Reply

    Good to know

  9. Reply

    Nice move

  10. Reply

    Interesting article

  11. Reply

    Nice one….thanks for sharing

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