Food Security: Oyo Disburses N1bn Loan To Farmers

Oyo State government has kicked off the disbursement of the N1 billion Agric Support Loan to farmers across the seven geopolitical zones of the state under the Sustainable Action for Economic Recovery (SAfER).

The state government, through the Agricultural Credit Corporation of Oyo State (ACCOS) held the symbolic presentation of the cheques to beneficiaries and participating microfinance banks at the Conference Room of the Ministry of Agriculture and Rural Development, Secretariat, Agodi Ibadan.

Presenting the dummy cheques to the beneficiaries, the state’s commissioner for agriculture and rural development, who also doubles as the chairman,  SAfER Food Security Sub-Committee, Barrister Olasunkanmi Olaleye, said the loan will reduce the cost of food and also sustain the economic recovery of the state.

He added that the loan facility was strictly for farmers and that it is being issued strictly based on the merit of applications, noting that the process will not be politicised.

He said qualified farmers would access between N250,000 and N1 million based on the size of their farms, adding that the state government had, under the food security component of SAfER, distributed farm inputs and maize grains to poultry farmers.

The commissioner, who said farmers in all the zones would continue to benefit from the state government’s laudable empowerment programmes, appealed to the beneficiaries to judiciously utilise the loan support and ensure that they return it as and when due for others to benefit.