*Mbaise Imo State, Nigeria, March 19, 2025:* In a groundbreaking move for the agricultural sector in Mbaise, the Mbaise Policy Roundtable (MPR) has made headlines by investing 1 million naira as counterpart funds, unlocking an astounding 20 million naira in credit for ten Mbaise farming clusters. This remarkable initiative was unveiled during the MPR’s 2025 annual global summit, where the commitment to empower local farmers with access to funding was first pledged.
The counterpart funding initiative is a strategic financial program aimed at boosting agricultural development by providing matching funds to projects promoting sustainable farming practices and enhancing productivity. Through this initiative, the government and financial institutions will match investments made by local farmers, effectively doubling the resources available for agricultural projects.
In a partnership with Array Ventures, an agripreneur consultancy led by CEO Ms. Ngozi Beulah Okechukwu, the MPR is set to channel 1 million naira in counterpart funds, enabling Mbaise farmers to tap into the 20 million naira credit. This project will be facilitated through the Central Bank of Nigeria (CBN) Agricultural Credit Guarantee Scheme Fund (ACGSF), a crucial program designed to enhance credit accessibility for agricultural activities by providing guarantees to financial institutions. This assurance encourages lenders to offer credit to farmers who might otherwise face challenges in securing loans.
The combination of the counterpart funding initiative and the ACGSF opens new doors for financial support, allowing local farmers to secure essential capital for investment in equipment, technology, and sustainable farming practices. This initiative is poised to lead to increased productivity and economic stability in the agricultural sector.
At a recent gathering at the prestigious Chris V11 hotel in Mbaise, the MPR reaffirmed its dedication to empowering local farmers, with Ms. Ngozi Beulah Okechukwu present as the agripreneurs project consultant. Professor Eddie Oparaoji, Chairman of the MPR, expressed his enthusiasm, stating, “I am truly excited that we are here today to bring to reality this very innovative strategic investment of 1 million Naira in counterpart funding to ten qualified Mbaise farming clusters. This move collectively avails you access to credit of up to 20 million Naira for various agricultural activities. It would also enable farmers to provide necessary guarantees to financial institutions, thus enhancing their access to essential resources. This is our first step into creative access to capital, and Mbaise would be better for it if you are successful.”
The pivotal presentation of the 1 million naira check was made by MPR representatives, including Chief Program Director Dr. Jude Iheoma and esteemed former Minister, Her Excellency Professor Viola Onwuliri.
In her remarks Professor Onwuliri said “I congratulate you as beneficiaries of this very unique counterpart funding project that has put you on the drivers seat to take Mbaise to Agro powered egalitarianism. I wish to also take this opportunity to express my gratitude to MPR, under the visionary leadership of Professor Eddie Oparaoji, for their foresight and for initiating such an impactful and innovative program to support our farmers . I particularly commend MPR for recognizing and supporting the remarkable young woman, Ngozi of Array Ventures, as it represents a significant stride in youth empowerment. Furthermore, I applaud Array Ventures for their exemplary work, which sets a standard for other young entrepreneurs. I also extend my appreciation to Dr. Iheoma for his unwavering support for MPR in Nigeria. Finally, I encourage you our farmers to ensure a successful outcome with the funds provided, as this will motivate MPR to continue their invaluable support for them and for other farmers”
Dr Iheoma also expressing the sentiments of MPR said “We are very ecstatic arriving at this juncture on our path to overcoming the financial obstacle confronting most rural farmers. I wish to stress the importance of your success since you are more like the experimental group in this MPR initiative.”
In their response, the representatives of the three local governments expressed their gratitude to MPR with a guarantee that they will not disappoint MPR. They prayed for the leadership of MPR and their financial sponsors
The event showcased the collaborative effort to strengthen the agricultural landscape in Mbaise.
The beneficiaries of this transformative initiative include:
1. Mrs. Onwujaiariri Scholastica Akujinma
2. Nze Rowland Chilaka
3. Mr. Francis Chilaka
4. Ms. Amarachi Stanley
5. Mr. Ugoma Uzziah
6. Mr. Jerry Ezeribe
7. Chief Onyenwe Ferdinand
8. Mr. Julian Ogu
9. Chief Enwerem Athenasius
10. Mr. Evans Agughalam
This significant investment marks a pivotal moment for the participating farmers and stands as a testament to MPR’s unwavering commitment to agricultural development in the region. With this boost in credit access, the Mbaise farming community is poised for unprecedented growth, innovation, and sustainability in the agricultural sector.
The MPR Publicity Secretary Mr. Peculiar Oluebube was also in attendance.
