46 Years of CBN Intervention ADAMAWA STATE

In Adamawa and Taraba states, the CBN has financed about 23,938 and 24,267 projects respectively. Below are the success stories from few beneficiaries of CBN’s interventions in both States.

NAME: Sebore Diary Factory INTERVENTION: RSSF-DCRR SECTOR: Agriculture LOCATION: Adamawa

Yepwa Multi – Ventures Limited is a poultry farm located in Yolde Pate, Adamawa State. The company accessed the Commercial Agriculture Credit Scheme (CACS) facility for the construction of an additional poultry house to stock birds. Since the loan was accessed, the farm increased its stock of birds from 4,500 to 20,000, which brought about a good yield in the production of eggs, thereby increasing the daily capacity from 120 to 350 crates.

Accessing the loan enabled the company to scale up its production, which has led to hiring about twenty additional staff, bringing the total staff strength of the company to fifty.

Sebore Dairy Factory is a milk processing and production company established in 2022, in Mayobelwa Local Government Area, Adamawa State. The project was financed by the Central Bank of Nigeria under the Real Sector Support Facility-Differentiated Cash Reserve Requirements (RSSF-DCRR). The facility enabled the company to install an ultramodern milk production plant with a capacity to produce 150,000 liters of milk per day. The company also offers extension services in crop production, animal husbandry and artificial insemination, all in a bid to increase agricultural output.

Apart from creating 205 direct and 376 indirect jobs, the company has also contributed to the conservation of the country’s foreign exchange, which would have been utilized in the importation of dairy products.

NAME: Yepwa Multi – Ventures Limited INTERVENTION: CACS SECTOR: Agriculture LOCATION: Adamawa

NAME: Bala Muhammed Audi

INTERVENTION: AgSMEIS SECTOR: SMEs LOCATION: Adamawa

Bala Muhammed Audi is an entrepreneur from Yola, Adamawa state, who ventured into rice milling, processing, production, and packaging. Mr. Audi benefited from the CBN Agribusiness Small and Medium Enterprises Investment Scheme (AgSMEIS) in 2019 to finance his business. He utilised the facility to acquire a six-in-one advanced combined milling machine, with capacity to process one ton of paddy per hour, bringing his total weekly output to thirty-five tons. The machine has capability of dehusking, separating, whitening, and polishing of paddy. He employed five additional staff to manage the business and provides consultancy services to other farmers in his community.

Mr. Muhammed expressed his gratitude to the CBN for supporting his business, which he described as a veritable source of livelihood for him and his employees.

NAME: Alobo Jolly