The Oyo State Government launched off yesterday the payment of the N1 billion Agric Support Loan to farmers across the state’s seven geographical zones under the Sustainable Action for Economic Recovery (SAfER).
The state government, through the Agricultural Credit Corporation of Oyo State (ACCOS), presented symbolic checks to recipients and participating microfinance banks at the Ministry of Agriculture and Rural Development’s Secretariat in Agodi, Ibadan.
The state’s Commissioner for Agriculture and Rural Development, who also serves as Chairman of the SAfER Food Security Sub-Committee, Barr.
Olasunkanmi Olaleye stated that the agricultural loan help will lower food prices while also sustaining the state’s economic growth.
He went on to say that the loan facility is just for farmers and that it would be granted on the basis of merit, emphasising that the procedure will not be politicised.
He stated that qualifying farmers will be able to access between N250,000 and N1 million depending on the size of their farms, and that the state government has allocated farm inputs and maize grains to poultry farmers as part of the SAfER food security component.
The commissioner, who promised that farmers in all zones would continue to profit from the state government’s commendable empowerment projects, urged the recipients to use the financial assistance wisely and to repay it on time so that others might benefit.
“We are all aware that the governor launched the SAfER some time ago. Food security is one of the different components of the programme, which is aimed at ameliorating the hardships of the people following the removal of fuel subsidy.
“We have other components, such as transport support, where the state government has provided buses at reduced costs for our people.”
“In the area of food security, Governor Makinde approved N1 billion as a loan facility for farmers in the state, 500 million for small-holder farmers, and another N500 million for youths and young agripreneurs, as well as another 500 million for micro and small-scale enterprises.”
“As part of food security measures, the governor has approved that inputs be given to 10,000 farmers, and, as I speak to you, more than 1,450 poultry farmers have benefited from free maize grains to sustain their businesses. The government has given 8 bags of 50kg each to about 1,400 farmers, and we have not stopped.”
“When we finish that, we will move on to the fish farmers as well. In the next few days, more than 1,000 fish farmers will benefit, and after that, we will move on to the cattle breeders, piggery owners, and all that.”
“Today, we are commencing the distribution of agric loans through the Agric Credit Corporations to farmers who have applied for the loans. A number of participating financial institutions are here, and it is through them that the loans will be distributed to the farmers across the state,” he said.
cc: Vanguard Ng
