IFÀD/LIFE-ND trains Abia beneficiaries on basic Book keeping, Accounting

By Leonard Okachie
 The Abia coordinating office of the Livelihood Improvement Family Enterprises Niger Delta (LIFE-ND) project has trained some agro entrepreneurs in the state on basic book keeping and accounting.
Interacting with journalists in Umuahia, the State Project Accountant, Mr Daniel Alozie, said that it was a working session organised for the beneficiaries across the commodities that the project is working on in Abia.
The State Project Accountant, LIFE-ND, Mr Daniel Alozie, addressing beneficiaries in Aba.


He said that the commodities included poultry, oil palm processing, rice and cassava production and processing.
He explained that the participants included the trainers otherwise referred to as the ‘incubators’, the trainees, also called the ‘incubatees’ as well as members of the Commodity Development Association (CADA).
A cross section of beneficiaries in Umuahia.


Alozie said that the working session, organised for the fourth batch of beneficiaries for both Umuahia and Aba zones, “is a yearly routine aimed at teaching them the importance of record keeping for their agro businesses.”
According to him, if you don’t keep records as a business owner, you will not be able to understand if the business is making profit or loss.
The facilitators with the resource persons.
A resource person, Mr Moses Akachukwu, said he taught the beneficiaries on the importance of keeping good financial records for their businesses.
Akachukwu, a  Chartered Accountant,  said that he let them know how to maintain their records with the banks while running their businesses.
“It is only a person that is planning to run a business at a very low level that would not want to relate with the banks.
“So, what we have succeeded in doing today is to open up their eyes in those areas that they think banks may be cheating them,” he said.
A resource person, Mr Moses Akachukwu, teaching the participants in Aba.
Another resource person, Mrs Nkiruka Bassey, said that an agro entrepreneur or any persons that fails to keep accurate record of his or her business is only planning to fail.
“It is very important that accurate book of account be kept by the beneficiaries for accurate information and to prepare their accounts in case they are called upon for any investigation,” she said.
A participant, Miss Lauretta Nwaorikpe, a native of Ihie-Umuode, in Isiala Ngwa North Local Government Area, commended LIFE-ND for the life-impacting programme.
“I have learnt how to keep records and to know when I’m making profit or loss,” she said.
The News Agency of Nigeria (NAN) reports that LIFE-ND is funded by the International Fund for Agricultural Development (IFÀD), in collaboration with the Federal Government and the Niger Delta Development Commission.
The project, which is designed for youths and women-headed households as well persons with disabilities, is aimed at providing sustainable food security and job creation in the Niger Delta region.(NAN)