As part of its Sustainable Action for Economic Recovery (SAfER) package, introduced in the wake of the petrol subsidy removal, the Oyo State Government, on Wednesday, flagged off the disbursement of the N1 billion agric support loan to farmers across the state.
The symbolic presentation held at the Ministry of Agriculture and Rural Development, State Secretariat, Ibadan, saw some beneficiaries receive amounts between N250,000 and N1 million.
The State Commissioner for Agriculture and Rural Development, Mr Olasunkanmi Olaleye, who, alongside the Chairman of the Agricultural Credit Corporation of Oyo State (ACCOS), Sheikh Taofeek Akeugbagold, presented the dummy checks, said the state considered the size of farms in deciding the amounts beneficiaries get.
Olaleye said the loan was targeted at alleviating the challenge of the high cost of fisheries, poultry feeds, and other farm inputs.
The commissioner urged the beneficiaries to judiciously utilise the loan support and ensure that they return it as and when due for others to benefit.
In his remark, the Chairman, Agricultural Credit Cooperation of Oyo State (ACCOS), Taofeek Akeugbagold, said the programme must not be misconstrued as a national or state cake to be shared but a revolving fund to ensure that farmers remain in production to guarantee food security in the state.
Akeugbagold stressed that farmers in all areas of agriculture, such as crop, fishery, livestock, and piggery, would benefit from the loan.
In his remarks, the General Manager of ACCOS, Mr Emanuel Ogundiran, avowed that the selection of the beneficiaries was devoid of political affiliations, transparent, and fair, with only legitimate farmers in the state benefiting.
One of the beneficiaries, Mr Ajayi Lateef Kayode, from Ogbomoso, lauded the state government for the initiative, promising that this loan will be used strictly for business and paid back in due time so that others can benefit.
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