Varsity gives loans to 7 graduates for agribiz

Michael Okpara University of Agriculture, Umudike (MOUAU) has given loans to seven graduates of the University.

The Vice Chancellor of the University, Prof. Maduebibisi Ofo Iwe who disclosed this at the institution’s campus during activities marking his 100 days in office as MOUAU’s VC, said the loans were in fulfilment of his pledge when he assumed office, to produce self-sufficient farmers.

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Prof Iwe said the loan facilities extended to the graduates were made possible through the launching of the MOUAU Agric Graduate Loan Scheme (MAGLS) and initiated by MOUAU Extension Centre (MEC).

The VC disclosed that the seven graduates from different Colleges of the University which were the first set of beneficiaries, were on June 9, handed over cheques ranging between N120,000 to N400,000.

The beneficiaries he said would use the loan facilities to establish business in fish production, poultry farming, cassava production, pig farming, egg sales, palm oil marketing and Agric input sales.

To live up to her name as an Agric institution, the VC informed that he reached out to the Minister of Agriculture and Rural Development, made a request for the Ministry to assist the university to open up its vast land for farming purposes.

Prof Iwe noted with happiness that the move led to the opening up of about 400 hectare of farmland which he promised would soon be put to profitable use as he made known MOUAU has purchased farm equipment worth over N2m.