Just In: Makinde Approves Release Of 1bn Naira Agric Loan
The Oyo State Governor, Engr. Seyi Makinde has approved the release of t one billion Naira agricultural loan for farmers in the state.
The Chairman of the State Agricultural Credit Corporation, Sheikh Taofeek Akeugbagold stated this at a press briefing to roll out the modalities of the Farmers loan under the Sustainable action for Economic Recovery (SAFER) Oyo.
Among the expected key beneficiaries of the loan are crop, fishery, livestock, and piggery farmers.
Sheikh Akeugbagold said farmers in the 33 local government areas of the state will have access to the loan so as to improve food security in the State.
He added that the disbursement of the one billion naira loan project will be non-partisan but for the generality of the legitimate farmers in the state.
In his remarks the General Manager of the state Agric Credit Corporation, Comrade Emmanuel Ogundiran stated that under the Agricultural loan project the trained farmers sponsored to Nassarawa State by the Oyo State government will also have access to the intervention.
He added that the repayment method is simple with a single digit interest rate, while loan receipients will be investigated before disbursement.
It will be recalled that 500milliion naira was rolled out to empower traders, artisans and other small business owners under the SAFER package.